TripActions is bolstering its financial position with $400
million in credit facilities from Goldman Sachs and Silicon Valley Bank.
The funding consists of a $200 million warehouse debt
facility from Goldman Sachs, with the option to increase it to $300 million,
and an asset-backed lending facility of $100 million led by Silicon Valley
Bank.
TripActions says it will use the funding to accelerate
growth of its customer base around the world and to furth innovation of its
TripActions Liquid expense solution.
Subscribe to our newsletter below
“TripActions is leading the way in transforming business
travel and spend management with its innovative model and solutions,” says Bob
Blee, head of U.S. technology corporate banking at Silicon Valley Bank.
“We are excited to continue to work with TripActions and provide
them with financing solutions and advisory expertise to help them succeed and
scale. Their continued growth is a testament to the strength of their platform
and the value they bring to their customers.”
In October TripActions announced it has raised $304 million
in Series G funding on a valuation of $9.2 billion.