Gurugram-based online travel agency (OTA) HappyEasyGo has raised an undisclosed amount of funds in series A+ round from Korea Investment Partners (KIP), Samsung, and China-based CITIC Capital, along with participation from other investors.
HappyEasyGo was founded by Vivek Prabhakar in May 2017. The startup aims to provide affordable flight tickets to its user through its technology platform. It is heavily focused on customer acquisition by providing various offers and the facility to transfer cashback amount directly to bank account.
This OTA startup has also introduced Happy Wallet, a virtual account where customers can save their rewards and cashbacks. The wallets are of two types Happy Silver and Happy Gold.
According to reports, the startup is books around 180,000 to 200,000 flight tickets every month.
While the online travel industry is dominated by the likes of MakeMyTrip, Yatra.com, and Cleartrip, new players are looking to challenge the established players in this domain.
HappyEasyGo is spurlging a huge amount of money on customer acquisition by providing heavy cashbacks in order to lure customers.
According to a Google–BCG report in June 2017, the overall Indian travel industry is expected to reach $48 billion by 2020, growing at a CAGR of 11-11.5%. The travel industry is already very competitive and as the industry grows, more startups will be looking to take the advantage, making the industry even more competitive, which might help the customers.