Dubai and Singapore-based, the largest online travel marketplace in the Middle East and North Africa (MENA), Wego acquired a Singapore-based revolutionary platform that simplifies business travel and expense management for global companies, Travelstop. The company announced the acquisition on September 12, 2023. However, it did not disclose the amount of the transaction.
Purpose of transaction by Wego
With the latest financing, Wego gets to expand its reach into business travel as well as expense management.
In addition, the acquisition strengthens Travelstop to tap into Wego’s regional network. The former also gets to leverage its deep understanding of the travel industry to drive growth and provide enhanced services to its customers.
The transaction between Wego and Travelstop aims to revolutionize the way companies navigate the complexities of corporate travel. It also contributes to the growth and development of the travel industry in the Middle East and Asia-Pacific regions. As Wego and Travelstop join forces, both companies are excited about the plethora of opportunities. The companies intend to leverage each other’s strengths. The combined entity is positioned well to redefine business travel and expense management.
What the Wego official has to add
Ross Veitch, CEO and Co-founder of Wego said, “We are thrilled to announce the acquisition of Travelstop. This strategic move is in line with our vision of offering comprehensive travel solutions to businesses in the region. Together, Travelstop and Wego will empower businesses to streamline their travel and expense management processes, introducing new levels of convenience and cost-efficiency.”
Wego aims to address the unique challenges faced by businesses operating in emerging markets, such as fragmented travel options and manual expense reporting. The combined platform has the ability to provide businesses with a one-stop solution, enabling them to seamlessly manage their corporate travel needs. Meanwhile, it also provides greater visibility and control over expenses.
What the officials of Travelstop have to comment
Prashant Kirtane, CEO and co-founder of Travelstop, said, “We are excited about the immense potential that this partnership brings. With our combined expertise and assets, we are confident in our ability to deliver an exceptional business travel experience to our customers. Our focus on product innovation and on customer satisfaction will enable us to set new industry standards and redefine the future of business travel.”
Craig Hewett and Ross Veitch launched the company in 2005. Wego provides award-winning travel search websites and top-ranked mobile apps for travellers. Its target audience resides in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple-to-use technology. The technology automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global. It also enables shoppers to quickly find the best deal and place to book, whether it is from an airline or hotel directly or with a third-party aggregator website.
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