India’s online travel portal Make my trip easier finalized a non-binding agreement to acquire Traviate, a B2B travel marketplace.
As BusinessToday reported on Thursday, October 28, Ease My Trip says the deal will give its parent company – Easy Trip Planners Limited – access to new opportunities in the travel industry.
Founded in 2016, Traviate connects B2B channels, travel agents, hotels and tour operators and other players in the travel world. The company says its network includes a listing of over 1.2 million properties and has enabled over 200,000 transactions to date.
EaseMyTrip was founded in 2008 by Nishant Pitti and Rikant Pitti and offers deals on flights, hotel stays and vacation packages. The company went public earlier this year with an initial public offering (IPO) of $ 72 million.
The company’s acquisition of Traviate will become final once final agreements, customary closing conditions and other approvals have been completed.
Read more: Selfbook Hotel Payment Software Platform Secures $ 25 Million Funding
The announcement comes a day after hotel payment software startup Selfbook announced a $ 25 million Series A. The company allows hotels to accept one-click payments on their sites and supports Apple Pay, Google Pay, and PayPal, as well as traditional credit and debit cards. cards.
Selfbook allows customers to pay in installments, with the platform’s system integrated with SevenRooms, Mindbody and SynXis to combine expenses for restaurants, spas and other hotel activities.
Read more: Indian hotel chain Oyo prepares $ 1.1 billion IPO
Earlier this month, another player in the Indian travel industry, Oyo, announced plans to raise $ 1.16 billion through an IPO.
The company said it would use the proceeds from the IPO to pay off its obligations and fuel growth, potentially through mergers and acquisitions..
Oyo has a turnkey business model: in exchange for room prices and bookings, independent hotel owners receive a portion of the income and fees they receive, provided they agree to rename themselves as Oyo property.