Overview of Transaction

• On December 1, 2021, CRED announced it has signed a definitive agreement to acquire Happay for ~$180 million in a cash and stock deal
• The acquisition of Happay will enable CRED to launch its business segment leveraging Happay’s expense management and corporate payments expertise
• Over 6,000 companies use Happay to manage their business expenses across a suite of products including: travel expenses, employee tax benefits, branch petty cash, fleet expense management, and Happay’s corporate cards
• This acquisition extends CRED’s position as one of India’s leading digital financial services providers

Significance of Transaction

• This transaction enables CRED to expand its offerings to businesses via Happay’s established expense management software and corporate card offering already serving over 6,000 companies

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to Happay
• This transaction highlights FT Partners’ deep Payments and Financial Management Solutions domain expertise, as well as our successful track record generating highly favorable outcomes for high-growth FinTech companies globally