TripActions Acquires Comtravo and Further Expands in Europe
This week, TripActions agreed to acquire Comtravo, the market-leading travel management company serving the DACH and Scandinavian regions. With more than 2,500 clients and a dozen offices, the addition of Comtravo to the TripActions Group leaves little doubt that TripActions is now the preeminent solution for modern travel, corporate cards, and expense management throughout the United States and Europe.
Comtravo brings invoice and VAT technology, enhanced local support, and important regional inventory to the group as it expands in Europe. Already, Comtravo has shown incredible product-market fit through its growth and acquisition model. Paired with the network and technology of TripActions, the group will be a powerhouse in the region — perfectly geared to dominate both legacy and modern players in corporate T&E.
As companies increasingly look to modernize their T&E programs, TripActions has now invested more than $400M in Europe over the past year. In just eight months, TripActions has acquired travel and event service Reed & Mackay; announced a Lufthansa Group co-branded platform; and expanded TripActions Liquid, its fintech-powered corporate card, and expense management solution, across the UK and Eurozone. The company has also accelerated its geographic expansion, with offices now in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv, and Lisbon.
To say that TripActions is charting a course that’s never been matched in corporate T&E is an understatement. We’re making this investment because we are absolutely committed to becoming the global leader and revolutionizing the travel, corporate card, and expense management space.
To our customers, partners, and investors: Thank you for joining us on this journey. And for those who haven’t yet tried the solution — come onboard. We’d love to show you around.
Let’s go! Ariel & Ilan