TripActions Acquires Travel Management Company Comtravo to Expand European Reach

Travel, corporate card and expense management platform TripActions Group on Tuesday (Feb. 8) acquired travel management company Comtravo, which serves Germany, Austria, Switzerland and Scandinavia, to expand its foothold across the U.K. and Europe.

Comtravo offers domestic rail, low-cost carriers and ancillary air travel supply services that will supplement TripActions’ offerings and double the number of agents available to help travelers across Europe. It will also bring the number of customers to more than 7,500, covering $6 billion in total travel budget to more than 94 countries, half of which are in the U.K. and Europe.

“When we looked across the industry, it became clear that the TripActions Group is the best positioned to take the European market,” said Michael Riegel, CEO of Comtravo, in the press release announcing the acquisition.

“With our strong customer and supplier relations, Comtravo will focus on ensuring that the combined group has the best product offering in the region. We are thrilled to become a part of TripActions’ success story in the EU and beyond,” he said.

In the past eight months, TripActions Group has acquired travel and events service Reed & Mackay; announced a corporate travel booking platform in partnership with Lufthansa Group; and launched its FinTech-powered corporate card and expense management solution, Liquid, in EMEA.

The company has offices in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv and Lisbon.

“TripActions is on the fast track to dominating travel and expense on a global scale,” said TripActions co-founder and CEO Ariel Cohen in the press release. “We’ve invested heavily across Europe over the past year, and Comtravo is the perfect addition to build out our regional offering as the only truly global all-in-one travel, corporate card and expense management solution.”

Related: TripActions Now Valued at $7.25B After $275M Funding Round

In October, TripActions Inc. completed a $275 million funding round that put its value at $7.25 billion. The company brought in $155 million in a January 2021 funding round and has raised about $1.3 billion since its launch in 2015.