Travel management company Navan has filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).
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California-based Navan announced the filing on Friday (20 June) although the company is keeping its financial details private with a confidential submission.
The filing is a step toward a long-expected IPO for the travel, card and expense management company.
Navan reportedly?filed confidential paperwork in 2022?for an IPO when the company was still known as TripActions; CEO Ariel Cohen?told BTN in 2023?that, while the timing was not then right for an IPO, the company would "eventually be public".
In June 2024,?Navan appointed Amy Butte, who has experience of taking multiple companies public, as its new chief financial officer.
Navan said it has not determined the number of shares nor a price range for its proposed IPO, and any IPO would be subject to the SEC review process "as well as market and other conditions".
The company, which also owns UK-based Reed & Mackay, was named as Europe¡¯s fifth largest TMC in the list of Europe¡¯s Leading TMCs 2025, which has been published by BTN Europe this week.