Navan, an all-in-one corporate travel and expense management super app, has announced its agreement to acquire Bengaluru-based Tripeur, a travel management company for an undisclosed amount.
The agreement – its first in India -- marks the fifth acquisition for the Navan Group in two years, in markets including UK, Germany, Sweden, and Spain.
Tripeur, a start-up in the corporate travel experience solution space – a subset of the overall Indian travel market estimated to be around $35 billion in size -- has spearheaded the transformation of the Indian travel market from offline to online.
Tripeur will enable the Navan team to scale and localise its technology to serve a growing list of enterprise customers that demand the Navan experience be available globally.
“Employees are tech-savvy and require online, mobile-first solutions designed for people, whether located in the US, UK, India, or anywhere else,” said Navan CEO and co-founder Ariel Cohen.
“Regardless of their geographic location, global companies are no longer willing to compromise on tech. The world has changed,” he added.
Incidentally, studies rank India as the world's seventh-largest business travel market with an anticipated annual growth rate of nine per cent and the historically manual region requires mobile-first technology to cater to the demands of Indian consumers.
More importantly, India leads the world in per capita mobile data consumption, making it essential to prioritise mobile-centric solutions.
Founded in 2015 by Thiagarajan Rajagopalan and Sajit Chacko and backed by investors including Pentathlon Ventures and Incubate Fund, Bengaluru-based Tripeur enables businesses to manage their entire travel experience on a single platform.
The seamless solution lowers program travel spends and enhances the employee experience, driving program adoption for companies that range from unicorns to enterprises.
“There is unprecedented demand for high-quality corporate travel solutions in India," says Rajagopalan.
“Navan's scalability, combined with Tripeur's localised technology, inventory, and support, ensures the group will offer unparalleled products and services in the region. We are thrilled to become a part of Navan's success story in India and beyond,” he added.
The addition of Tripeur bolsters Navan’s footprint, with offices now in Amsterdam, Atlanta, Austin, Bengaluru, Berlin, Dallas, Dublin, Gurgaon (Delhi), Gothenburg, Lisbon, London, New York City, Palo Alto, Paris, Salt Lake City, San Francisco, Seattle, Singapore, Sydney, and Tel Aviv.
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