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.
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SOURCE Yatra Online, Inc.