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Payment & Expense

TripActions launches payment solution

By Molly Dyson / 25 February 2020 / Contact Reporter

TripActions founders Ariel Cohen and Ilan Twig

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 �C 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 �C 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

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