TravelPerk plans to enhance its risk management functionality for customers following its acquisition of Albatross.
Terms of the acquisition of the Spain-based startup, which offers an API for information on travel restrictions, have not been disclosed.
The Albatross API will be built into TravelPerk’s existing risk management service, TravelCare.
The business will also continue to operate as a standalone unit and sell its services to other travel management companies.
Avi Meir, CEO of TravelPerk, says the ability to capture information via an API was a driver in buying the startup, compared to building its own system.
He adds that he had originally planned to become an Albatross customer but “saw great talent and an amazing product.”
Meir says the acquisition and building out of the TravelCare service enable it to offer a consumer-like experience to its customers, most of which are predominantly small- to medium-size businesses.
He also believes the company’s strategy, which mixes technology with human interaction, continues to be the “golden path for success," especially in light of the pandemic when there is less certainty.
Meir says business levels for TravelPerk are beginning to pick up, although volumes are still small compared to 2019.
“Overall, there is caution," he says. "This virus is real and the health implications are real. It’s a cautious way of going back to travel while realizing that we don’t travel for work unnecessarily. It’s something we have to do to get business done.”
The acquisition follows a series of recent product developments from TravelPerk, including its FlexiPerk refund service and its partnership for repatriation with International SOS.