<p><strong>PALO ALTO</strong> — TripActions &#8212; provider of an all-in-one travel, corporate card, and expense management solution &#8212; has secured $400 million in credit, consisting of a warehouse debt facility from Goldman Sachs Bank USA, as the senior lender and administrative agent, with a $200 million commitment ($300 million total Program Limit) and an asset-backed lending facility of $100 million led by Silicon Valley Bank.</p>
<p>The credit facilities will be used to accelerate the expansion of TripActions’ customer base.</p>
<p>The announcement comes on the heels of TripActions’ <a href="https://tripactions.com/press-release/tripactions-increases-valuation-series-g">recent Series G up-round</a>, which valued the company at $9.2 billion, 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.</p>
<p>“TripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment,” 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.”</p>
<p>In Q3 FY23, TripActions said 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.</p>
<p>“When we started looking into other solutions, we scoped Expensify and Ramp but we loved that TripActions is a one-stop-shop for travel and expense management and offers a corporate card. There is a lot of appeal in having one place for employees to go,” says Connie Ngyuen, Senior Manager of Finance at Loom. “Now, we want everyone to have a Liquid card and to use it as their default payment method.”</p>
<p>“TripActions is leading the way in transforming business travel and spend management with its innovative model and solutions,” said 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.”</p>

PALO ALTO -- SYNCERE, a home robotics startup, has scored $11 million in pre-seed funding…
SEATTLE & SAN FRANCISCO -- Amazon is teaming up with Uber to offer food delivery…
SAN FRANCISCO — Collective, a financial operating system for solo businesses, has landed $100 million…
SAN FRANCISCO -- Serval, an enterprise service management and automation platform, has raised a $150…
Apple's Siri AI is expanding to more people around the world, with availability now in…
SAN JOSE and SOUTH BEND, IN — Cisco and Notre Dame Athletics announced a multi-year partnership…