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CRED to acquire expense management firm Happay

December 01, 2021

CRED to acquire expense management firm Happay
Kunal Shah’s CRED appears to be aggressively acquiring organizations a strategy it steered clear for about the first two years since its inception. CRED is on the brink of acquiring expense management firm Happay.

The two organizations have been engaged in talks for the past couple of months and the terms of the deals have been sealed, said two individuals aware of the details of the transaction. “The deal is a mix of cash and stock which will value Happay at more than $150 million,” said one individual requesting anonymity.

CRED has confirmed the acquisition talks with Entrackr. Happay will be CRED’s second acquisition after a start-up which it acquired in October.

CRED is reportedly in talks with getting Times Internet-owned Dineout and Rainmatter-backed debt investment platform WintWealth. In any case, these talks are early and the Bengaluru-based organization is yet to confirm them.

Shah’s other entity Newtap Technologies reportedly acquired fintech firm Parfait.

As for Happay, it provides expense the board to corporates to manage travel and tax benefits for their employees. The organization offers specialized solutions for large businesses with multiple branches and surface logistics companies.
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