Concur Technologies has agreed to pay $40m for a minority stake in India-based online travel site Cleartrip.
Nasdaq-listed corporate travel and expense management service Concur Technologies has agreed to pay $40m for a minority stake in India-based online travel site Cleartrip as part of a marketing partnership.
After launching in 2006, Cleartrip raised $18.5m in April 2008 from local industrial conglomerate Mahindra Group and venture capital firms Draper Fisher Jurvetson, DAG Ventures, Sherpalo Ventures and Kleiner Perkins Caufield & Byers.
Steve Singh, Concur’s executive chairman, said: "India is projected to very soon become the world’s…
