Not yet three years old, New York-based Ramp Business Corporation last month confirmed new financing of $750 million at a valuation of $8.1 billion. It announced that more than 5,000 businesses were on its platform, which “is powering over $5 billion of annualized payments volume.” It’s a tech firm that offers payments rather than a…
New York – Spotnana officials have been calling it the AWS of travel, but the reference only gets you so far outside tech and investment circles. Concepts like open stack and microservices help a little. In corporate travel, though, people want to know whether you are attempting to be a GDS, an OBT, a TMC…
The largest player is after the market’s smallest accounts, which by many accounts are leading the business travel recovery. Continuing a customer segmentation strategy, American Express Global Business Travel last week brought to the United States an employee spend management solution for small and medium-sized enterprises first introduced last year in the United Kingdom. With…
Spend management company Emburse, parent of Chrome River and Certify, last month acquired data analytics firm Data Visualization Intelligence and last week bought app maker Roadmap. At a time when corporate travel remains mostly dormant, the forward-looking stories of these deals mirror classic business tales of challenge and opportunity. “These are two companies that built…
The pandemic stopped most business travel, but it did not end the relentless and historically futile quest for an online-first intermediary that attracts and keeps loads of small-to-midsized business clients. While many such companies use local corporate travel agencies and some use global ones, a lot of them book with suppliers or consumer-oriented online travel…
Expensify CEO David Barrett sent some customers into a frenzy with commentary about politics that was at once remarkable and in character. His message, posted Thursday to his company website and sent to all users of its expense management products, said, “Protect democracy, vote for Biden.” If the ensuing tweetstorm is to be believed, Expensify…
[UPDATE, Nov. 16, 2021: U.S. Bank parent U.S. Bancorp agreed to acquire partner TravelBank. Financial terms were not disclosed.] TravelBank is doubling down on expense management, which CEO and co-founder Duke Chung called “the only software you can justify purchasing at this time.” During a Wednesday phone interview, Chung described the company’s new Work From…
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