TripActions Raises Debt Facility of Up to $500 Million
Backed by Silicon Valley Bank, Goldman Sachs, and Comerica, TripActions intends to offer companies a virtual credit card to cover employee travel expenses
Meir Orbach | 13:00 25.02.2020
Palo Alto, California-based corporate travel startup TripActions Inc. has raised a debt facility of up to $500 million, the company announced Tuesday. The financing was led by Silicon Valley Bank, with participation from Goldman Sachs, and Comerica Inc. Founded in 2015 by CEO Ariel Cohen and Chief Technology Officer Ilan Twig, TripActions develops a business travel management service that aims to save companies money on their employees’ work-related trips. The company receives a commission from both the companies that order the trips and the various service providers. TripActions counts Dropbox and Lyft among its customers. raised a $250 million series D round according to a company valuation of $4 billion. Last month, Calcallist reported that TripActions has established sales and marketing operations in Israel.