Business travel platform TripActions has announced it is
launching a global payments solution after raising a debt facility of up to
US$500 million.
TripActions Liquid allows companies to issue employees with
corporate cards thanks to a partnership with Visa. The cards enable business
travellers to pay for travel-related expenses such as flights, hotel,
incidentals, rideshares, dining and more.
The solution also leverages partners such as AppZen to give managers
access to real-time, AI-powered spend approvals. As the new product is
integrated with the TripActions platform, Liquid knows when an employee is on a
trip and can be configured to auto-enable the card for travel-related expenses.
TripActions said the financing was led by Silicon Valley
Bank with participation from Goldman Sachs and Comercia Bank.
Samantha DeRosa, senior account manager at TripActions
client Toast, said: “TripActions is the only complete, end-to-end corporate
travel management solution for finance teams and travel managers, combining the
best online booking tool, travel management company and travel payments
solution into a single platform. It’s a no-brainer to use TripActions Liquid
with the TripActions corporate travel platform – it’s booking and payments
integrated seamlessly to make travel spend management a breeze.”
Ariel Cohen, co-founder and CEO of TripActions (pictured, left, with co-founder and CTO Ilan Twig), commented: “Organisations
have sacrificed for too long with inferior corporate travel management
platforms – from clunky booking tools to poor service, out-of-control costs and
complicated travel payments processes.
“Now, as part of our commitment to our users to improve
their end-to-end travel experience, we’re revolutionising travel payments to
help enterprises further delight their employees while optimising travel
processes and spend.”
The announcement comes after TripActions received investment
from Lufthansa Group.
tripactions.com