Moneycontrol
Last Updated : Jan 22, 2018 07:07 PM IST | Source: Moneycontrol.com

Goomo acquires WagonBee to strengthen its travel-tech

WagonBee was established by ex-NIT Trichy graduates Vikash Singh and Navneet Misra in 2016.

Mumbai -based Goomo, a travel tech company on Monday said it has acquired Wagonbee, a B2B vehicle rental marketplace.

The two companies did not disclose the size of the deal.

WagonBee was established by ex-NIT Trichy graduates Vikash Singh and Navneet Misra in 2016.

Its a B2B car rental marketplace for travel agents and suppliers, enabling them to rent a vehicle from 5000 registered vehicles.

"The acquisition of WagonBee will help Goomo add road transportation services to its list of offerings, and further drive the brand's promise of delivering end-to-end travel solutions to customers. Over and above this, the acquisition further reiterates our constant endeavour to build our overall tech competencies and develop the best technology-driven travel platform in the country," said Varun Gupta, CEO, Goomo.

Goomo is an omni-channel travel-tech company that distributes travel products and services through online and offline channels.

"The Indian car rental market is estimated to be around USD 15 to 18 million and is expected to grow 17 to 20 percent year-on-year. WagonBee and Goomo are a perfect synergistic match given the similarities in our understanding of this fragmented market. We share a common vision of how this space can be organised better," said Navneet Misra, co-founder of WagonBee.

Goomo was launched in 2017 and it has reportedly raised USD 50 million from Emerging India in 2017.

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First Published on Jan 22, 2018 07:07 pm
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