Navan is acquiring Bengaluru-based travel and expense management company Tripeur, which the company said will boost its ability to provide online travel management services in India.
Navan expects to close the acquisition “within a few weeks,” according to a company spokesperson, and financial details were not disclosed.
The acquisition allows Navan—the rebranded TripActions, as of February—“to ingest and scale” Tripeur’s technology, which “has spearheaded the transformation of the Indian travel market from offline to online,” Navan CEO Ariel Cohen said in a blog post, an advanced copy of which was provided to BTN.
The technology includes direct connections to low-cost carriers in India, such as Indigo, and automated employee expense reconciliation, Cohen said. Additionally, the acquisition enables Navan to offer local support in India beyond assistance with bookings, such as lounge access at airports and visa facilitation, which typically is more complicated in India compared with other markets, he said.
“Taking on the challenges of T&E in India requires a truly unified, modern solution that can handle both travel and expense,” Cohen said in the post. “Integrating Tripeur’s local inventory, technology and support with Navan’s platform combines the best of two worlds to provide an unparalleled offering for the Indian market.”
In terms of its customers, Navan initially will focus on supporting international clients, “our growing list of enterprise customers such as Unilever, Adobe and Thomson Reuters” in delivering a consistent experience across geographies, Cohen said. Navan in the coming months will integrate Tripeur’s technology into its platform over, and Tripeur’s staff will join the Navan team, according to the company. The acquisition is Navan Group’s fifth over the past two years, following acquisitions of Reed & Mackay in the U.K., Resia in Sweden, Comtravo in Germany and Atlanta Agencia Viajes in Spain.
Tripeur was founded in 2015 and reports such customers as beverage company Paper Boat and online shopping company Meesho. The acquisition will bring Tripeur customers “broader pricing power, a wider support network, expanded inventory and access to Navan Expense” when they migrate to Navan, according to the Navan spokesperson.
