TripActions, a business travel platform, has partnered with Airwallex to provide cross-border payment functionality.
According to a press release, Airwallex’s assistance will benefit TripActions Liquid, the company’s corporate card, and cost management solution.
“With the help of Airwallex’s global payments and banking infrastructure, TripActions can further streamline travel and expense management experiences for its customers across 130 markets by providing a seamless, cost-effective way to convert and pay out funds in over 45 currencies,” according to the press release.
According to Michael Sindicich, general manager of TripActions Liquid, the relationship would allow the firm to compensate its clients’ foreign personnel in their native currencies promptly or on the same day, depending on the country.
The collaboration comes at a time when TripActions is expanding. In October, the business secured $300 million in a Series G fundraising round. It has acquired three travel management firms this year, launched TripActions Liquid in Europe, and opened offices in Portugal, Germany, France, and the United Kingdom.
This week, Airwallex collaborated with Agoda to assist Hong Kong business visitors in making hotel reservations. According to the firms, their alliance is intended to handle the rising need for business travel.
“After nearly three years of pandemic travel restrictions, many local firms are eager to resume travel,” Arnold Chan, Airwallex’s general manager for Hong Kong and Southeast Asia, said.
In other business travel-related news, this week has witnessed a surge in financing for hospitality tech businesses in Europe, as investors support startups that are digitizing the hotel industry.
Mews, a Dutch business, led the pack this week, closing a $185 million Series C round on Thursday to build its cloud-based solution for hotels and fuel its global development.
The firm claimed in a blog post announcing the financing that the new funds will be used to fund its expansion in countries such as the United States, the United Kingdom, and France, bringing Mews up to level with its 20% market share in the Netherlands.
