B2B Travel Platform E-Trav Tech partners with EaseMyTrip

EaseMyTrip logo

Three points you will get to know in this article:

  • EaseMyTrip plans $3.9 Mn investment in E-Trav Tech Limited.
  • E-Trav Tech provides travel APIs for businesses.
  • EaseMyTrip’s acquisitions and financial growth signify expansion.
E Trav Tech Logo

Introduction to EaseMyTrip

EaseMyTrip is a reputable Indian travel agency offering great deals on flights, hotels, holiday packages, and bus & train tickets. You can explore their exclusive offers on their official website at EaseMyTrip.com. The company offers customized travel packages, itinerary planning, travel insurance, visas, and other assistance. The app allows customers to track their flights, hotels, and rental cars in one place. EaseMyTrip has collaborations with major airlines and hotels, enabling customers to make reservations at discounted rates. The company aims to provide travelers with a hassle-free experience and ease the stress of planning a trip.

Investment in E-Trav Tech Limited

Traveltech major EaseMyTrip is looking to invest INR 33 Cr ($3.9 Mn) in B2B travel Portal E-Trav Tech Limited to acquire a 4.94% stake.

In an exchange filing on Thursday (March 28), the online travel aggregator said its board approved the proposed investment during its board meeting today.

Based in Mumbai, E-Trav Tech Limited provides travel APIs to businesses, empowering travel companies to offer competitive deals and diverse content sourced from global travel suppliers. Their offerings span flight APIs, holiday packages, hotel APIs, bus APIs, visa services, and more.

Established in 2008 by Rikant Pittie, Nishant Pitti, and Prashant Pitti, EaseMyTrip is dedicated to simplifying travel with its range of solutions, including air tickets, hotels, holiday packages, rail and bus tickets, and additional value-added services.

EaseMyTrip's Acquisition Spree

The startup mentioned has been actively acquiring stakes in various businesses within the travel industry over the past few years.

Driven by the growth seen after the pandemic, the company acquired a 75% ownership in Nutana Aviation Capital, an aviation asset financing firm, in December 2022.

Subsequently, it also acquired a 55% stake in the hotel booking marketplace cheQin, as well as 51% stakes in three Indian travel companies – Guideline Travels Holidays, TripShope Travel Technologies, and Dook Travels, in 2023.

Expansion into New Sectors

Last December, they snagged a non-controlling chunk, roughly 13%, of Eco Hotels and Resorts Limited through a share swap, marking their entry into the vibrant world of hotels and hospitality. They also made headlines by revealing their ambitious plans to pour INR 100 Cr into erecting their inaugural hotel in the heart of Ayodhya.

And just a while back, they thrilled enthusiasts with the announcement of a fresh arm in their arsenal: EaseMyTrip Insurance Broker Private Limited, signaling their grand entrance into the realm of insurance.

Financial Growth and Performance

Their spree of acquisitions isn’t just a whim; it’s backed by their robust financial growth. They proudly reported a hefty 9.6% surge in consolidated net profit, boasting INR 45.6 Cr in Q3 FY24 compared to INR 41.6 Cr from the same quarter last year. Plus, their operating revenue climbed a solid 18.1% year-on-year, reaching INR 160.7 Cr by the end of December 2023.

EaseMyTrip plans to invest INR 33 Cr ($3.9 Mn) in E-Trav Tech Limited, acquiring a 4.94% stake, as approved during a recent board meeting. E-Trav Tech, based in Mumbai, provides travel APIs for businesses, offering diverse content and competitive deals. EaseMyTrip has been actively acquiring stakes in various travel industry businesses, including ventures into aviation financing, hotel booking, and insurance. Their robust financial growth is evident in the reported surge of 9.6% in consolidated net profit and an 18.1% year-on-year increase in operating revenue by the end of December 2023.

Neha Kamath

Start typing and press Enter to search

Shopping Cart