GERMANY – TripActions, a Palo Alto, CA-based all-in-one travel, corporate card, and expense management solution, is to acquire Comtravo, a Berlin, Germany-based travel management company serving the German, Austrian, and Swiss DACH and Scandinavian regions.
The amount of the deal was not disclosed. Founded in 2015 by Michael Riegel and Jannik Wässa, and backed by investors including Microsoft Venture Fund and Deutsche Bank, Comtravo offers a comprehensive business travel solution that can be tailored to the needs of companies and their travelers.Comtravo brings to the TripActions Group regional expertise and inventory, including domestic rail, low-cost carriers, and ancillary air travel supply that will further the group’s presence in the region. Specialized invoicing and VAT technology will contribute additional cost- and time-saving offerings to TripActions’ end-to-end solution, while localized support will double the number of agents available to assist travelers in Europe.Combined, the TripActions Group will now support more than 7,500 customers and manage nearly $6 billion in total travel budget across more than 94 countries — with half of the group’s business now in Europe and the UK.Led by co-founder and CEO Ariel Cohen, TripActions is a travel, corporate card, and expense management solution, providing 7500 customers around the globe visibility and control over spend. In the span of eight months, the TripActions Group acquired travel and events service Reed & Mackay; announced a corporate travel booking platform in partnership with Lufthansa Group; and launched its fintech-powered corporate card and expense management solution, Liquid, in EMEA. The acquisition adds to the company’s rapid geographic growth, with offices now in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv, and Lisbon.About Comtravo
