Corporate travel platform, TripActions, has raised a debt facility of up to $500 million in order to launch a management and payments platform focused on business travel.
TripActions — one of the fastest-growing business travel platform — announced it has raised a debt facility of up to $500 million to launch the first end-to-end global corporate travel management and payments platform. The debt financing was led by Silicon Valley Bank with participation from Goldman Sachs and Comerica Bank.
The financing enables TripActions to officially launch its second major product. The TripActions Liquid product is known for solving the hassles of global travel payments to deliver a better experience for road warriors, finance leaders, and travel managers. And the product launch follows positive feedback from finance and travel leaders using TripActions Liquid within some of the world’s leading public and private companies.
Employees that are traveling benefit with TripActions Liquid as they no longer have to carry the cost of work travel on their personal credit cards, including the flight, hotel, incidentals, rideshares, dining, etc. Plus TripActions Liquid utilizes partners like AppZen. And this eliminates traveler angst and guesswork along with out-of-policy spend.
And with a collaboration between TripActions and Visa, users are able to travel with confidence knowing TripActions Liquid corporate cards are accepted everywhere Visa is accepted across more than 46 million merchant locations in more than 200 countries and territories.
With TripActions Liquid, finance leaders and travel managers can set smart policies to manage travel spend in real-time. And it offers seamless integration with the TripActions corporate travel platform ensures that TripActions Liquid knows when an employee is on a work trip and can be configured to auto-enable the traveler’s card for travel-related purchases. Plus time-consuming back-end work by finance is no longer required when bookings, payments, and reconciliation are done within a single platform. And TripActions offers a competitive rebate on all spend processed through TripActions Liquid, resulting in more savings for organizations.
Read more here