Cred Closes $180M Acquisition Deal for Happay
Summary
Moving into corporate expense management was a natural proposition for Cred, according to CEO Kunal Shah. He said in the media statement that the company focused on solving the pain points of credit card management and has experienced fast growth in the past three years. See also: Newtap Technologies Snags Parfait to Broaden FinTech Reach with Lending Newtap Technologies — Cred’s investment arm — acquired alcohol delivery startup HipBar in October and Parfait Finance & Investment in November. “Happay software stack and in-house payment engine, along with its ease of use, will complement the card management experience that CRED members enjoy for their personal expenses. It is the only unified platform that automates the spend management workflow, a trend that is set to explode in a contactless, paperless world, while ensuring compliance and visibility with an end-to-end audit trail,” Happay said.
Funding
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