Omni-channel travel-tech startup Goomo which acquired holiday planning platform Zopky in 2016 has made another acquisition of a B2B vehicle rental platform WagonBee to expand its offerings.
In 2006, the Mumbai-based travel company Goomo was founded by Varun Gupta. The Goomo platform was established in 2015 after the acquisition of travel business Orbit Corporate and Leisure Tours but the online platform was launched last year in order to capture B2C market as well. The platform has raised funding of $50 million from Mauritius-based PE fund Emerging India. The platform provides services like booking of flights, holidays, trade fairs, etc.
Varun Gupta, said, "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.
In 2016, WagonBee was founded by Vikash Singh and Navneet Misra. The platform is a car rental marketplace where travel agents, suppliers can rent a vehicle from over 5,000 registered vehicles provided by more than 350 vendors.
Misra said, 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 via apt solutions for our partner vendors as well as customised offerings to meet the evolving customer needs.
According to Misra, the Indian car rental market is estimated between $15 to 18 billion and projected to grow at CAGR of 17 to 20 per cent yearly.