Travel management company TripActions has secured another $400 million in funding to “accelerate expansion” of its customer base, the company announced on Thursday (8 December).
The funding comes via credit facilities consisting of a warehouse debt facility from Goldman Sachs Bank USA ($200 million as an initial commitment, with an option to increase to $300 million) and an asset-backed lending facility of $100 million led by Silicon Valley Bank.
The latest investment is TripActions’ fourth funding boost since the start of 2021, and closely follows a recent $300 million funding round that valued the company at $9.2 billion.
The company said the warehouse facility will enable the “continued growth” of its corporate card and expense management solution, TripActions Liquid.
“With this new warehouse facility from Goldman Sachs, TripActions Liquid is well positioned to support its customers while continuing to innovate at a rapid pace,” said Michael Sindicich, EVP and head of TripActions Liquid.
In the past 18 months, TripActions has acquired European TMCs Reed & Mackay, Comtravo and Resia, as well as launching the TripActions Liquid expense solution in Europe and opening offices in Portugal, Germany, France and the UK.
TripActions currently has more than 2,500 employees across 60 global offices. It was ranked as Europe’s fourth largest TMC in BTN Europe’s list of Europe’s Leading TMCs 2022.