Travel management company Navan, formerly known as TripActions, has acquired Bangalore-based travel and expense management company, Tripeur, in an effort to tap into India’s growing business travel market.
The deal marks Navan’s fifth acquisition in two years, following purchases in Germany, Sweden, Spain and the UK, including the 2021 acquisition of UK-based TMC Reed & Mackay and the purchase of Comtravo in 2022.
The mobile-first TMC said the acquisition will allow it to “scale and localise” its technology to provide market-relevant solutions in India and serve a “growing list” of global enterprise customers.
According to Navan, the move will also “solve local obstacles” for business travellers in India. This includes providing direct connections to local low-cost carriers such as Indigo, access to atypical inventory, including booked taxis, Indian Railways, and chauffeured cars, VIP and lounge assistance at airports, visa facilitation and automated GST reconciliation for expenses.
Tripeur co-founder and CEO Thiagarajan Rajagopalan said there is “unprecedented demand” for corporate travel solutions in India.
"Navan's scalability, combined with Tripeur's localised technology, inventory, and support, ensures the group will offer unparalleled products and services in the region,” he added.
Founded in 2015 and backed by investors including Pentathlon Ventures and Incubate Fund, Tripeur provides an integrated platform to book travel and analyse spend which, according to the company, reduces costs and drives programme adoption with a focus on employee experience.
This latest acquisition comes amid reports Navan is preparing to go public in the second quarter of 2023 and follows a $300 million funding raise last October, which the company said increased its valuation to $9.2 billion.