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 further innovation of its TripActions Liquid expense solution.
“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.
