TripActions bags $400m in credit facilities to boost expansion
Travel, corporate card and expense management firm TripActions has secured $400 million in credit facilities from Goldman Sachs Bank USA and Silicon Valley Bank (SVB).
TripActions lands $400m in credit facilities
The funding consists of a warehouse debt facility from Goldman Sachs with a $200 million commitment ($300 million total limit) and an asset-backed lending facility of $100 million led by SVB.
TripActions says it will use the new funding to accelerate the expansion of its customer base and to boost the growth of its corporate card and expense management solution TripActions Liquid.
“TripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment,” says EVP Michael Sindicich, head of TripActions Liquid.
The new funding comes hot on the heels of a $304 million Series G round in October, which valued the firm at upwards of $9 billion.
In the third quarter of this financial year, the company claims TripActions Liquid recorded more than 5x year-over-year spend volume from customers including Stripe, Zoom, Canva, Carta and Lyft, among others.
