RateGain, a India-based SaaS company focused on travel, has appointed Rohan Mittal as its new chief financial officer (CFO), replacing Tanmaya Das, according to a stock exchange filing.

Mittal recently resigned as CFO of Yatra and has held senior financial roles at Rivigo, AllcargoGATI, PwC India, and ICICI Bank.

The company also promoted Deepak Kapoor to chief technology officer (CTO). Kapoor, who joined RateGain in 2019, was previously EVP of technology and played a key role in developing AI-driven SaaS products and cloud-native platforms.

Founded in 2004, RateGain provides AI-based SaaS solutions for the travel and hospitality sectors. It operates in over 100 countries and serves more than 3,200 customers.

🔗 Source: Inc42

🧠 Food for thought

1️⃣ Surging AI adoption is reshaping the travel tech leadership landscape

RateGain’s leadership reshuffling comes amid a dramatic shift in AI adoption within the travel industry, with consumer usage of generative AI for travel planning jumping from 22% in 2023 to 39% in 2024 1.

Bhanu Chopra’s emphasis on Mittal’s role in “an AI-led future” reflects a broader industry recognition that AI is poised to transform travel technology on a significant scale 1.

This leadership change mirrors the industry-wide transition from exploratory AI projects to targeted applications with measurable outcomes, as companies race to demonstrate clear ROI on their AI investments 2.

The company’s explicit positioning toward becoming “AI-first” signals alignment with Phocuswright’s finding that AI-powered autonomous agents will transform how travelers interact with services 1.

Amidst economic pressures, SaaS companies across sectors are optimizing their operations, with research showing the average number of cloud applications per company declining by 18% between 2022 and 2024 3.

2️⃣ Strategic CFO appointments reflect travel tech’s focus on consolidation and expansion

Mittal’s appointment at RateGain follows a pattern visible across the SaaS industry, where companies are prioritizing financial leadership with M&A expertise to drive strategic growth amid market consolidation 4.

His background across multiple sectors (travel, logistics) and specific expertise in mergers and acquisitions positions RateGain to potentially acquire complementary technologies in a competitive landscape that includes specialized players like RoomPriceGenie and Atomize 4.

RateGain’s strong financial performance—a 40% increase in net profit to ₹56.54 crore and 11% revenue growth 5—provides the company with financial leverage for potential acquisitions in an industry increasingly focused on specialized revenue management tools.