GoZayaan, a Singapore-based startup in Bangladesh, has acquired FindMyAdventure, a Karachi-based adventure travel marketplace.
The Deal: The amount GoZayaan paid for FindMyAdventure was undisclosed. Nonetheless, Deal Street Asia and Bloomberg report the deal size around $3.5 million.
Tell me more: GoZayaan is a travel aggregator and lets you book tours, hotels, flights, and buses. Think of it as a Bangladesh version of FindMyAdventure.
It previously raised $3.5 million in disclosed funding across two rounds.
Make it make sense: To finance the acquisition of FindMyAdventure, GoZayaan raised an undisclosed amount of money in January.
Between the lines: The primary reason for this acquisition is the similarity between Bangladesh and Pakistan in terms of:
- internet penetration
- digital travel booking
GoZayaan wants to make travel more convenient for users in the region by offering them a better experience, technical support, and more digital solutions.
And as part of the deal, FindMyAdventure will rebrand to GoZayaan Pakistan.
You should know: FindMyAdventure was founded in 2016 by Husnain Habib Malik, Khawaja Raza Abbas, and Komail Naqvi.
It raised a total of $750,000 in disclosed funding before being acquired.
Big Picture: Startup acquisitions are rare in Pakistan, but their pace has picked up since last year.
In 2021, Jordan-based Abwaab acquired Edmatrix, and UAE-based TruckSher acquired TruKKer.
It’s great to see regional startups acquiring their counterparts in Pakistan.