GoZayaan, a Singapore-based travel startup that operates in Bangladesh, has acquired FindMyAdventure, a Pakistan-based online tourism company, for $3.5 million, according to Bloomberg.
FindMyAdventure is a travel technology firm that specializes in adventure tours for the Pakistani market. It has evolved into rentals, luxury tourism, and digital experiences since its inception in 2016 when it began as an online platform for people to book travel experiences, and now has over 300 hotel partners across the country.
GoZayaan, a South Asian travel-tech company, is supposedly Bangladesh’s largest online platform, with over 700,000 monthly active users since its launch in 2017. According to a release, it also recently closed an undisclosed investment led by previous investors Nordstar Partners, Saurabh Gupta, Partner at DST Global, and Alexander Rittweger, Founder of PAYBACK. It closed a $2.6 million seed round last year.
“One of the main reasons for this acquisition is the geographic, user behavior, internet penetration, and travel environment similarities between Bangladesh and Pakistan,” GoZayaan explained.
“These two South Asian countries account for 5% of the world’s population and over 60% of South East Asia’s, implying a large possibility for expansion and market penetration. FindMyAdventure and GoZayaan’s combined ability to boost the region’s travel and tourism infrastructure through quick technology adoption and improved access to travel is also supported by this agreement.”
Abbas, who is currently the country MD of GoZayaan Pakistan, stated that the company’s goal is to continue to solve regional travel-related issues while also providing online travel and ticketing as well as adventure tourism.
According to two persons familiar with the situation, GoZayaan has put up $3.5 million as part of the arrangement, according to Bloomberg.
Image Courtesy: GoZayaan
