Yatra.com Partners with Zaggle to Offer Integrated Expense Management Solutions

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Jul 08, 2020, 08:45 ET

GURUGRAM, India and NEW YORK, July 8, 2020 /PRNewswire/ -- Yatra Online, Inc. ("Yatra") (NASDAQ: YTRA, OTCQX: YTROF), India's leading online corporate travel platform servicing 850+ corporate and 20,000+ SME clients, and Zaggle, a leading FinTech start-up have announced their partnership to deliver streamlined, integrated expense automation solutions for corporates and SMEs in India.

Zaggle's state-of-the-art technology helps compiling corporate spends using proprietary technology platforms resulting in business efficiencies. This partnership, will enable Yatra to deliver an efficient expense management system and corporate card program along with its existing online travel solution. These solutions will further enable Yatra to seamlessly digitize business spends.

Commenting on the partnership, Dhruv Shringi, Co-founder and Chief Executive Officer, Yatra.com said, "We are diversifying beyond our portfolio of travel to become an end to end business solution partner for our clients. Joining hands with Zaggle helps us drive efficiencies for our clients by automating the expense management process. Our technology platforms complement each other and we look forward to growing with Zaggle to drive lasting business impact for our clients."

Mr. Raj N, Founder, Zaggle said, "We strengthen our product portfolio by leveraging technological advancements to provide hassle-free solutions. By partnering with Yatra, we will be able to maximize our reach in to the corporate segment and further strengthen our base in the expense management industry. Yatra's strong hold in the B2E sector provides us a great opportunity to empower businesses across sectors and improve their efficiency and accuracy in terms of expenditure."

Zaggle currently works with more than 3,500 large customers and has over 10,000 merchant relationships. Zaggle's tech solutions help businesses manage employee tax benefits, employee reimbursement and expenses, rewards and recognition. With this partnership, Yatra assists leading businesses to enforce expense policies, provide an optimal travel experience and save costs.

About Yatra Online, Inc and Yatra Online Pvt. Ltd.

Yatra Online, Inc is the parent company of Yatra Online Pvt. Ltd. which is based in Gurugram, India and is India's leading Corporate Travel services provider with over 850 corporate customers and 20,000+ SMEs across industries.

Being one of India's leading online travel companies and operating the website Yatra.com, the company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. Launched in August 2006, Yatra was ranked the Most Trusted E-Commerce Travel Brand in India in the Economic Times Brand Equity Survey for two successive years, and has won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' conferred by the Government of India four times.

Safe Harbor Statement

Statements contained in this press release that relate to future results and events may constitute "forward-looking statements" within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "seem," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this earnings release is provided as of the date of issuance of this earnings release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

SOURCE Yatra Online, Inc.