TripActions, the all-in-one travel, corporate card, and expense management solution, 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.
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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.