TripActions Secures $400M in Credit Facilities From Goldman Sachs and Silicon Valley Bank
by Fintechnews Switzerland December 12, 2022TripActions, the all-in-one travel, corporate card, and expense management solution, today announced that it secured $400M in credit facilities, consisting of a warehouse debt facility from Goldman Sachs Bank USA, as the senior lender and administrative agent, with a $200M commitment ($300M total Program Limit) and an asset-backed lending facility of $100M led by Silicon Valley Bank. The credit facilities will be used to accelerate the expansion of TripActions’ customer base.
The announcement comes on the heels of TripActions’ recent Series G up-round, which valued the company at $9.2B, and the company’s fourth Europe-based acquisition in 18 months. The warehouse facility will enable the continued growth of TripActions’ innovative, award-winning corporate card and expense management solution, TripActions Liquid, as companies look to increase real-time visibility, control, and savings.
Michael Sindicich
“TripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment,” says EVP Michael Sindicich, Head of TripActions Liquid.
“With this new warehouse facility from Goldman Sachs, TripActions Liquid is well positioned to support its customers while continuing to innovate at a rapid pace.”
In Q3 FY23, TripActions Liquid recorded more than 5x year-over-year spend volume from leading customers across multiple verticals and segments, including Zoom, Canva, Carta, Toast, Lyft, Notion, Databricks, and VaynerMedia.
This article first appeared on Fintechnews.America
Featured image credit: Edited from Freepik
