Indian fintech unicorn Cred to buy expense management firm Happay

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Cred, a credit card bill payments platform, will buy Happay in a cash and stock deal, the company said in a statement on Wednesday, valuing the expense management firm at approximately $180 million.

Post the acquisition, Happay will operate as a separate entity, and Cred’s leadership team will work closely with it to leverage Cred’s ecosystem, expand product offerings and scale up operations, the company said. Cred also said that all of Happay’s 230 employees will be eligible for benefits extended to Cred’s employees, including its ESOP (employee stock ownership plan) programme.

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