Happay clocks transactions worth Rs. 200 cr; aims 50 pct market share by 2019

ANI | Updated: Oct 05, 2017 18:32 IST

New Delhi [India], Oct 5 (ANI): Riding on success with an annual growth rate of 200 percent, business expense management solution provider Happay on Thursday announced clocking over one million transactions per month.

With an estimate at around Rs. 2,400 crore annually, Happay announced its plans to acquire over 10,000 small, medium and large enterprises by 2019.

Currently, over 4000 business in India are managed through the Happay platform naming Aditya Birla Retail Ltd., Health & Glow, IBIBO Group, Uber, Urban Ladder, OYO Rooms, V Guard, and Unnati NGO.

Founded in 2012, by IIT Kharagpur graduates Anshul Rai and Varun Rathi, the company has seen an annual growth rate of 200 percent, buoyed by the rising demand in the enterprise segment.

A new age, cloud and mobile-based expense management solution, it supports advanced monitoring and tracking capabilities.

It allows employees to record and report expenses on the go which are automatically accumulated on the Happay mobile app. Company accountants and auditors can then reconcile expense reports, attached with digitised receipts in minutes.

"With GST implementation, the potential for expense management solutions have increased immensely. Our effort will be to strengthen the ecosystem by partnering with more banks to cater to this demand," said co-founder and CEO, Anshul Rai.

"We strive to make the entire experience smooth and uncomplicated. Our enterprise version has been welcomed by large corporates and has been chosen over several other leading players," said co-founder and COO Happay, Varun Rathi.

Adding to this he said that the company aims to capture a 50 percent market share by the year 2019.

With an overall employee base of 250 across ten cities in India, Happay plans to double its employee strength and also onboard 10,000 enterprises by 2019. (ANI)