Dhaka-based travel-tech platform GoZayaan announced that it has acquired Pakistani travel-tech company FindMyAdventure. GoZayaan has been looking to expand regionally after its stellar year in the local market. The terms of the deal were not disclosed. However, several media reports suggest that the deal valued FindMyAdventure at $3.5 million. FindMyAdventure will now operate as GoZayaan with offices in both Dhaka and Islamabad. Previously, FindMyAdventure was operating out of Karachi.
GoZayaan says one of the reasons for “acquiring a Pakistani travel-tech platform is the similarity in geography, internet penetration and user behavior in terms of travel booking.” The deal makes GoZayan the first Bangladeshi travel-tech platform to acquire a company beyond its borders. And it meaningfully expands the total addressable market for the company.
Founded in 2017, GoZayaan started its journey with an ambition to shift the tourism scene into the digital space. The company says its passion for solving problems through rapid technology adoption was proven when it saw near 10 times growth over the year 2021 - a time when tourism was at its lowest due to the pandemic.
For this acquisition, GoZayaan raised an undisclosed amount of seed extension round backed by existing investors, Nordstar Partners, Saurabh Gupta, Partner at DST Global, and Alexander Rittweger, Founder of PAYBACK. Last year, GoZayaan closed its $2.6M seed round which was led by Wavemaker Partners and joined by VCs such...
Read Full Story: https://futurestartup.com/2022/02/16/gozayaan-raises-undisclosed-seed-extension-round-acquires-pakistans-travel-tech-startup-findmyadventure/
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