Amex Ventures, the investment group within American Express, has invested in ground transportation platform HQ, the mobility company announced Monday at the Global Business Travel Association convention in Atlanta. The companies did not disclose financial details of the deal.
The investment will “help accelerate the rollout of enhancements to [HQ’s] mobility platform, targeting both large enterprises and small to medium-sized businesses,” according to HQ. It also will enhance the company’s fintech and payment solutions, “specifically by strengthening its travel and expense management technology.” The funding also will “support advancements in HQ’s next-generation payment and expense management solutions.”
In May, HQ added Amex virtual card capabilities to its SummitGround platform for U.S. business and corporate card customers.
