Happay Wins the Coveted CIO CHOICE Recognition for Travel and Expense Management Category
- Voted by CIOs as the most preferred brand
- On track to reach 1 Billion USD transaction volumes annually
- Happay completes the Workzie acquisition
Happay, India’s leading Business Spends Management provider, announced today, that it has been conferred CIO CHOICE 2019 honour and recognition as the most preferred brand in Travel and Expense Management category. Its cloud-based platform leverages modern technologies such as AI, ML and Mobility to help businesses automate their expense claims and reimbursement processes, boost productivity, achieve policy compliance and get rich insights into corporate spending.
Now in its 7th year, the annual CIO CHOICE recognition is the largest and only online voting platform, where CIOs determine and choose the products that have earned their vote of confidence. There is a distinguished Advisory Panel, comprising of CIOs from across verticals, that guides the entire process, with KPMG as the Knowledge Partner.
On receiving the recognition Varun Rathi, COO and Co-Founder, Happay said, “Our previous recognitions made us the most admired brand for CFOs, auditors and users. Now to become the preferred brand from the CIO community is a truly humbling and rewarding experience. I wish to thank our customers and partners for the continued trust and encouragement.”
Anoop Mathur, Founder and President, CORE Media, said, “Congratulations to Happay for being honoured with the CIO CHOICE 2019 trust seal. This seal gives the assurance to enterprise CIOs to confidently engage with the recognised brand for the first time, helping both—ICT brands and CIOs.”
Rathi further added, “We strongly believe that CFOs and CIOs are the catalysts of digital change in Enterprises; through our AI-powered and integrated Travel & Expense Management platform, we will continue to help CIOs to lead business transformation and enable CFOs to shape the future direction of their enterprise.”
Currently, Happay serves over 5000 enterprise, MidMarket and SME clients, it plans to double the customer base by the end of 2019 with newer solutions and more strategic partnerships, similar to Uber and HDFC Bank. With an annualised run rate of $ 700 million in transaction volumes, it’s on track to reach 1 Billion USD mark, by the end June 2019.
Happay recently completed the acquisition of Workzie for an undisclosed amount; Post-acquisition all employees of Workzie joined Happay. Both companies decided to come together to transform the way companies looked at business spends and solve a critical pain point for CFOs and CIOs. Workzie was founded by Neeraj Trikha, Ashutosh Sharma and Kaustubh Sinha. The startup was part of Axilor Venture’s accelerator program and was recognized among Top 20 Fintech start-ups in Asia by Startup Bootcamp Singapore.
“Workzie had a strong belief in automating expense management at the source itself, which aligns with our strategic objective of deeper penetration into the merchants’ ecosystem”. said Anshul Rai, CEO and Co-Founder Happay. He further elaborated on the acquisition “It provides tremendous value to enterprise customers by plugging Happay at the source of transaction thus removing manual interventions. This approach has been successfully demonstrated in our partnership with Uber and multiple travel companies to get the transaction data directly into Happay platform.”
Happay is India’s leading Business Expense Management Solution provider for Corporates. It is headquartered in Bangalore and was founded in 2012 by IIT Kharagpur alumni Anshul Rai and Varun Rathi. Happay’s cloud-first and mobile-first business spend management software linked to corporate cards is used by 5000+ corporates across 40+ business verticals in India. In the last 6 years, the company has grown from scratch to one of India’s leading FinTech companies with 350+ employees across 10+ locations. Known for its innovation and process excellence, Happay has received various awards such as London Mayor’s India Emerging 20 (IE20), IAMAI’s ‘Best Prepaid Card’ twice, Silicon India’s Company of the Year, Paul Writer’s ‘Hot Bangalore Brands’ with innovative technology, Nasscom Top 10 and many more. The company is backed by globally renowned VC firms such as Sequoia Capital, Axiom Capital, AME Cloud Ventures and Prime Venture Partners among others.