GoZayaan, a Singapore-based travel firm, has expanded into Pakistan by acquiring FindMyAdventure, an adventure tourism web.
According to sources, GoZayaan put more than USD 3.5 million into the company. GoZayaan’s existing investors, including Nordstar Partners, DST Global Partner Fund, and Alexander Rittweger, are backing the purchase.
Wavemaker Partners led a $2.6 million initial round for GoZayaan last year, which was supported by SEA-focused VCs Ratio Venture, 1982 Ventures, Iterative, Century Oak Capital, and current and former Airbnb executives.
GoZayaan, a South Asian Online Travel Agency (OTA) based in Bangladesh, is trying to make travel more convenient by developing an end-to-end comprehensive online travel booking solution for flights, hotels, intercity buses, and tours.
The similarities between Bangladesh and Pakistan in terms of geography, user behaviour, internet penetration, and digital trip booking are the driving force behind this acquisition. The startup wants to make sure that all of its customers get the finest travel experience possible.
FindMyAdventure’s founder, Komail Naqvi, said, “We’re very excited to take this partnership forward. Our vision with FMA is aligned with GoZayaan but on a much broader level. For us, this is now a regional problem that we’re focused on solving together as one team.
We’re now backed with the best investors around the globe and their collective interest in the Pakistani travel market shows that we still have a lot of work to do.”
Ridwan Hafiz, founder of GoZayaan also said, “Entering the Pakistan market is the first step towards GoZayaan’s grand vision of expanding and strengthening the digitally-enabled travel ecosystem across South Asia.”
Consumers of GoZayaan could expect a more engaging experience as a result of the merger. GoZayaan will expand its end-to-end automated capabilities to include domestic and international flight and hotel bookings, as well as its ongoing trip and tour services, all of which will be offered on a single platform.
The companies’ joint venture will play a crucial role in creating the future of travel in South Asia and will significantly strengthen the digital travel ecosystem.
This combination perfectly coincides with the firm’s mission of making travel more accessible, and the company is looking forward to expanding its footprint on foreign soil with greater market penetration, resulting in a boom in the South Asian OTA industry.
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