GoZayaan acquires FindMyAdventure
South Asian Travel Tech platform GoZayaan acquires Pakistan-based FindMyAdventure to digitize localized travel and tourism experiences in the region and beyond
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South Asian travel-tech platform GoZayaan has expanded its operations in a new market as it announces its acquisition of Pakistan travel-tech platform FindMyAdventure.
FindMyAdventure is a travel-tech platform specializing in adventure tours for the local market in Pakistan. One of the core reasons for this acquisition is the similarity between Bangladesh and Pakistan in terms of geography, user behavior, internet penetration, and travel landscape. These two South Asian countries consist of 5% of the world’s population and are equal to almost 60% of South East Asia’s population, which means it would be a huge opportunity in terms of growth and market penetration. This arrangement also supports the collective ability of FindMyAdventure and GoZayaan to improve the region’s travel and tourism infrastructure with rapid technology adoption and improved access to travel.
As recorded in our State of Startup Funding- 2022 Emerging Venture Markets report, Pakistan showed exceptional ecosystem maturity along with a 350% YoY growth in funding over 2021. More remarkably, after two years of 0 exits, the Pakistani ecosystem recorded 2 exits in 2021 marking regional players entering the market for the first time. These cross-market acquisitions remain exciting due to their strategic nature, where Jordan-based EdTech platform Abwaab acquired its Pakistani counterpart Edmatrix, while UAE-based TruckSher acquired Transport & Logistics startup TruKKer. While the number of international investors backing Pakistan-based startups observed a 230% YoY increase in 2021, the Pakistani market seems ripe for international participation and regional expansions such as this one.
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GoZayaan, a South Asian OTA currently focused in Bangladesh, is working to make travel more convenient by creating an end-to-end holistic online travel booking solution for flight, hotel, inter-city bus, and even tour booking. Founder and CEO of GoZayaan, Ridwan Hafiz says, “Pakistan is a beautiful country with amazing people and robust tourism. It is our honor and privilege to be part of their travel ecosystem and do our part to build a better future in travel together.”
GoZayaan’s goal is to make travel flexible and accessible for all. The companies want to work together to shift travel from offline to online and shed more light on the digital landscape by developing innovative solutions to travel across South Asia. Komail Naqvi, founder of FindMyAdventure and now the country managing director of GoZayaan Pakistan says, “We’re very excited to take this partnership forward with our aligned goal to solving regional travel-related problems. We're now backed with the best investors around the globe and their collective interest in the Pakistan travel market shows that we still have huge potential.”
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