TripActions Secures $400 Million in Credit From Goldman Sachs, Silicon Valley Bank

<p><strong>PALO ALTO<&sol;strong> — TripActions &&num;8212&semi; provider of an all-in-one travel&comma; corporate card&comma; and expense management solution &&num;8212&semi; has secured &dollar;400 million in credit&comma; consisting of a warehouse debt facility from Goldman Sachs Bank USA&comma; as the senior lender and administrative agent&comma; with a &dollar;200 million commitment &lpar;&dollar;300 million total Program Limit&rpar; and an asset-backed lending facility of &dollar;100 million led by Silicon Valley Bank&period;<&sol;p>&NewLine;<p>The credit facilities will be used to accelerate the expansion of TripActions’ customer base&period;<&sol;p>&NewLine;<p>The announcement comes on the heels of TripActions’ <a href&equals;"https&colon;&sol;&sol;tripactions&period;com&sol;press-release&sol;tripactions-increases-valuation-series-g">recent Series G up-round<&sol;a>&comma; which valued the company at &dollar;9&period;2 billion&comma; and the company’s fourth Europe-based acquisition in 18 months&period; The warehouse facility will enable the continued growth of TripActions’ innovative&comma; award-winning corporate card and expense management solution&comma; TripActions Liquid&comma; as companies look to increase real-time visibility&comma; control&comma; and savings&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;TripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment&comma;” says EVP Michael Sindicich&comma; Head of TripActions Liquid&period; &OpenCurlyDoubleQuote;With this new warehouse facility from Goldman Sachs&comma; TripActions Liquid is well positioned to support its customers while continuing to innovate at a rapid pace&period;”<&sol;p>&NewLine;<p>In Q3 FY23&comma; TripActions said Liquid recorded more than 5x year-over-year spend volume from leading customers across multiple verticals and segments&comma; including Zoom&comma; Canva&comma; Carta&comma; Toast&comma; Lyft&comma; Notion&comma; Databricks&comma; and VaynerMedia&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;When we started looking into other solutions&comma; 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&period; There is a lot of appeal in having one place for employees to go&comma;” says Connie Ngyuen&comma; Senior Manager of Finance at Loom&period; &OpenCurlyDoubleQuote;Now&comma; we want everyone to have a Liquid card and to use it as their default payment method&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;TripActions is leading the way in transforming business travel and spend management with its innovative model and solutions&comma;” said Bob Blee&comma; Head of U&period;S&period; Technology Corporate Banking at Silicon Valley Bank&period; &OpenCurlyDoubleQuote;We are excited to continue to work with TripActions and provide them with financing solutions and advisory expertise to help them succeed and scale&period; Their continued growth is a testament to the strength of their platform and the value they bring to their customers&period;”<&sol;p>&NewLine;