The two sides reached in-depth cooperation.
According to BusinessWire , TripActions is EST On January 21st, the company officially announced its landing on the European market, and obtained a round of strategic financing from the Lufthansa Innovation Center (LIH) under the Lufthansa Group of Germany, and the two sides reached in-depth cooperation.
TripActions was founded in 2015 and is headquartered in California, USA, providing a business travel booking service platform for businesses. Prior to this collaboration, TripActions has been operating in Europe, the Middle East and Africa for several years. The Lufthansa Group is a European aviation giant with 142 million passengers in 2018. It consists of three business units: network aviation, Eurowings and aviation services.
Lufthansa Group is the first strategic investor of TripActions. Previously, TripActions’ distribution system had been involved in Lufthansa Group in November last year, and users can book Lufthansa Group products directly on the platform. Ariel Cohen, co-founder and CEO of TripActions, said that the partnership between TripActions and suppliers such as Lufthansa at the business level will help TripActions expand rapidly.
Simply put, TripActions helps business users efficiently manage business travel expenses. In the case of employees traveling, companies can set a target budget on the TripActions platform, and employees can also book flights, hotels, trains and car rentals on the platform Wait, let enterprises from “consumption before reimbursement” into the era of direct consumption can be. In addition, combined with TripActions’ carbon impact report, centralized billing and bill return functions, companies can greatly optimize their business travel plans.
On the track of corporate consumption management, American corporate expenditure management companies represented by Divvy, Brex, and TripActions all grew into unicorn companies with a valuation of billions of dollars in about three years, which is a considerable Startup track. In the past few years, in the context of the economic downturn, the need for enterprises to reduce costs and increase efficiency has become more and more powerful, and China’s corporate fee control circuit has also appeared in Express News, Decibel Pass, Huilianyi , Reimbursement every moment and other benchmarking companies.
At present, TripActions has served more than 3,000 corporate customers. Last year, it also joined United Airlines, Southwest Airlines and other airlines. Its benchmark customers include Lyft and Zoom. Prior to , TripActions received US $ 250 million in financing last June, led by Andreessen Horowitz (A16Z), and Zeev Ventures, Lightspeed Ventures, and Group 11 co-invested, with a valuation of US $ 4 billion. 100 million US dollars in financing.