Corporate travel agency TripActions this week secured $400 million in credit facilities from Goldman Sachs and Silicon Valley Bank, which it said it will use to “accelerate the expansion of its customer base.”
TripActions to Rebrand as Navan
25.08.2023 - 14:11 / skift.com / Matthew Parsons
Corporate travel agency TripActions is rebranding to Navan, Skift has learned.
The new name will take effect on Feb. 7, sources tell Skift, and comes after the corporate travel agency filed the trademark last year.
In October, TripActions told Skift that it gets “trademarks and domains often” and that the filing was “not indicative” of a name change.
It’s unclear what the strategy is for the rebrand and what Navan is meant to represent — perhaps navigate?
TripActions did not immediately respond to Skift for comment.
The trademark/service mark application (below) spans six categories, and as well as booking travel and managing travel includes provision for issuing credit cards and payment cards, credit card and payment card transaction processing services, and financial administration of credit card and payment card accounts.
In October, TripActions raised $300 million, with the extra funding to be “used to accelerate expansion.”
As of the end of July 2022, TripActions had 2,500 employees across nearly 60 global offices.
TripActions isn’t the only one looking for a fresh start as corporate travel starts to recover. Last week rival agency American Express Global Business Travel announced it was restructuring to focus on small and medium-sized companies.
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