TripActions, an all-in-one travel, corporate card and expense management company, has raised $300m in Series G funding.
TripActions leverages real-time data to help companies travel travelling employees safe, reduce spend, and drive productivity.
The raise is a combination of $154m in equity from new and existing financial investors as well as a $150m structured capital transaction led by Coatue.
This is also sees TripActions reach a post-money valuation of $9.2bn, and marks the third financing round for the company in three years.
Since early 2020, TripActions said it has recorded a 2x-plus valuation increase, which it said validates its choice to double down on travel and payment innovation during the peak of the pandemic.
TripActions said the funding will be used to accelerate its global expansion. In the past year this includes the acquisitions of travel management companies Reed & Mackay, Comtravo, and Resia, as well as the launch of TripActions Liquid in Europe and office openings in Portugal, Germany, France, and the UK.
As of the end of July 2022, TripActions currently has more than 2,500 employees across nearly 60 global offices.
Ariel Cohen, TripActions CEO and co-founder, said “TripActions is building the best travel and expense management solution in the world. The recent funding round shows not only the strength of its business model, but also the value to companies looking to increase savings and enable responsible spending. TripActions is proof that empowering users through relentless innovation and automation is the future of travel.”
Ben Horowitz, cofounder and general partner at Andreessen Horowitz, added, “From the start, TripActions revolutionized business travel by automating, personalizing, and professionalizing the experience. Despite a pandemic that brought business travel to a standstill, the company doubled down on innovation and now those bets are paying off in a big way.”
Earlier this year, battleface partnered with TripActions, an all-in-one travel, corporate and expense management solution
Copyright © 2022 FinTech Global