GoZayaan has acquired Pakistan-based FindMyAdventure, making it the first travel technology platform in Bangladesh to take over any company beyond its borders.
The local start-up says its expansion overseas was in tune with its aim to play a key role in shaping the future of travel in the South Asian region, paving a path for tech-enabled innovative solutions.
The core reason for acquiring a Pakistani platform is the similarity in geography, internet penetration and user behaviour in terms of travel booking.
For this acquisition, GoZayaan raised an undisclosed amount in extended seed funding backed by existing investors Nordstar Partners, DST Global Managing Partner Saurabh Gupta and PAYBACK Founder Alexander Rittweger.
Its $2.6 million seed round closed last year led by Wavemaker Partners and joined by venture capital firms Ratio Venture, 1982 VC, Iterative, Century Oak Capital along with current and former Airbnb executives.
Go Zayaan's pre-seed funding was raised from Brac Osiris Impact Ventures.
"Bangladesh has the potential to create not just local, but also regional or global companies. We are going to try exactly that," Ridwan Hafiz, CEO of GoZayaan, told The Daily Star.
"This unlocks a total addressable market for us which is massive because together, Bangladesh and Pakistan constitute 5 per cent of the world's total population. We said we were going to create the future of travel; well, the future starts now," he said.
The acquisition also signals a boom in new...
Read Full Story: https://www.thedailystar.net/business/organisation-news/news/gozayaan-acquires-pakistani-travel-tech-platform-2963116
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