TripActions raises $304m Series G at $9.2bn valuation
TripActions, the US-based travel, corporate card and expense management company, has secured $304 million in Series G financing at a post-money valuation of $9.2 billion.
TripActions is valued at $9.2bn
The fundraise was a mix of $154 million in equity from new and existing investors and a $150 million structured capital transaction led by Coatue.
The money will be used to fuel the company’s global expansion, which it has been working towards with recent acquisitions of travel management companies Reed & Mackay, Comtravo, and Resia.
TripActions also partnered with Stripe for its European launch last year, and opened offices in Portugal, Germany, France and the UK. It claims an employee count of more than 2500 across 60 offices around the world.
The company offers savings tools including dynamic travel policy, real-time reporting with benchmark data, traveller incentive programmes and TripActions Liquid – which includes built-in spend controls. It also offers automated features for expense reporting, itemisation and reconciliation.
“All road warriors have experienced the pain of booking flights, making last-minute changes and submitting expenses,” says Dan Rose, chair at Coatue Ventures. “TripActions is bringing modern software to make all of this more seamless.”
In February 2020, TripActions raised a $500 million debt facility from Silicon Valley Bank, Goldman Sachs and Comerica Bank.
