HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans

HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans

SUMMARY

Korea Investment Partners (KIP), Samsung Venture Investment Corporation (SVIC) have joined as investors

The company will invest towards developing the hotel division

HappyEasyGo claims to have a user base of over 10 Mn

Gurugram-based online travel agency (OTA) platform HappyEasyGo has raised INR 350 Cr ($49.4 Mn) in its Series B+ funding round.

The company reportedly raised funds from investors such as Korea Investment Partners (KIP), Samsung Venture Investment Corporation (SVIC), UOB Venture, 10 Fund, CVCapital, Zero2IPO Ventures and M&S Partners.

It plans to use the funds to primarily strengthen its air ticket business and build a hotel division in India. Prior to this round, the company raised an undisclosed amount of funding in a Series A+ round in September 2018.

Founded in 2017 by Boris Zha, HappyEasyGo is an air ticket booking platform in India and has recently enabled hotel booking as well. The company claims to have a user base of over 10 Mn. The company is looking to grow its hotels business through localisation and maintaining the lowest price for growth in the market.

Boris Zha, founder and CEO, HappyEasyGo expects that by the end of December, the hotel business would be doing over 3000 bookings a day. The company has also partnered with trusted brands like Samsung, VIVO, Transsion, Airtel Payments Bank, Oman Air, OLAMoney and MobiKwik to reach out to a wide number of user base while also reducing the overall customer acquisition cost.

In addition to this, it recently launched multi-level loyalty program rewarding travelers with various benefits like exclusive OLA coupons, Lounge service, priority customer support, healthcare benefits and many other benefits.

The country’s overall travel market is estimated to become a $48 Bn industry within the next three years, according to a June 2017 Google India-BCG report. Some of the leading players in the market include MakeMyTrip, Yatra, ixigo, Cleartrip, etc.

Outbound tourism spending in India is expected to surpass $42 Bn by the end of the year 2024.

A 2018 Praxis Global report says that the online travel market in India, led by flight and hotel aggregators, is expected to touch $13.6 Bn by 2021 and will account for almost 43% of the total travel category in the country.

The report said most of the growth in the Indian travel market would come from the increasing penetration of international flight and hotel bookings offered by online portals such as Cleartrip, MakeMyTrip, Yatra, and others.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans-Inc42 Media
HappyEasyGo Gets New Series B Investors Aboard For Expansion Plans-Inc42 Media
You’re in Good company