In order to expand its B2B product portfolio, Mumbai-headquartered traveltech startup Goomo has acquired a B2B vehicle rental marketplace WagonBee. Founded by Navneet Misra and Vikash Singh in 2016, Noida-based WagonBee is currently present in over 40 cities across India with nearly 8,000 itineraries and connections.
Commenting on the announcement, Varun Gupta, CEO, Goomo stated, “The acquisition of WagonBee will help Goomo add road transportation services to its list of offerings, and further drive the brand’s promise of delivering end-to-end travel solutions to customers. Over and above this, the acquisition further reiterates our constant endeavour to build our overall tech competencies and develop the best technology-driven travel platform in the country.”
Founded by Varun Gupta in 2015, Goomo is an omni-channel traveltech startup offering travel products and services through online and offline channels.
The B2B car rental marketplace WagonBee enables travel agents and suppliers to rent a vehicle of their choice from over 5,000 registered vehicles ranging from hatchbacks and sedans to luxury coaches and buses, provided by 350+ verified vendors.
Operating across three verticals – consumer, corporate and B2B – Goomo claims to possess a 40% market share in the trade fair and MICE (meetings, incentives, conferences and exhibitions) segment. Having raised more than $50 Mn in funding from Emerging India, Goomo is currently in a phase of rapid growth.
The acquisition has come at a time when Ola and Uber, with their ‘Pass tickets’, have already stepped into B2B car rental services, and other players like Carzonrent and ECO rent a car are also encashing the corporate car rental opportunity.