LONDON, March 31, 2022 /PRNewswire/ -- European spend management platform Soldo today announces its partnership with TravelPerk, the largest global travel management platform which makes business travel seamless - from booking to expense management.
While travel and entertainment took a hit during the pandemic, spending in this area is on the rise - as employees return to the office, hold in-person meetings and catch flights/trains/taxis for work. In fact, in the last year, Soldo has witnessed travel and entertainment spend triple across its 30,000 customer base.
Supported by an integration between the Soldo and TravelPerk platforms, the partnership will allow for an increasingly connected travel management experience. The integration will give customers the ability to sync invoices from TravelPerk into the Soldo platform for travel spend made using a Soldo card. As a result, customers will see reduced manual work, time saved and enriched insights and data within the Soldo platform.
Both Soldo and TravelPerk are committed to helping businesses manage spend effectively - improving visibility and control for finance teams. The news follows strong growth for both companies. Last year (July) Soldo announced closing $180m Series C funding. It also saw impressive 4x growth in spend volume across its platform since Series B, despite the backdrop of the challenging macro-economic environment. Earlier this year (Jan), TravelPerk secured an additional $115m in Series D funding.
Carlo Gualandri, CEO and Founder of Soldo said: "Business travel is returning at great speeds. We can see this by the increase in spend across our platform. We're excited to partner with TravelPerk on this opportunity which will enhance the experience for our joint customers who will benefit significantly by combining industry-leading spend automation with world class travel management - from booking to reconciliation."
Huw Slater, COO, TravelPerk said: 'With the recent lift of covid-19 measures in the UK and other major countries, employees need a flexible and complete solution when traveling for business more than ever, while finance teams need to keep track of every penny through built-in travel policies and approvals. We are thrilled to partner with Soldo to meet our customers' needs and deliver the best travel and expense experience.'
About Soldo
Soldo is the European pay and spend automation platform that combines smart company cards, issued by Mastercard, with comprehensive management software. More than 30,000 companies, from small businesses to multinational corporations in more than 31 countries, use Soldo to track and control spending. Headquartered in the UK, with additional offices in Dublin, Milan, and Rome, Soldo empowers customers including Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running to spend company money on travel and entertainment, advertising, purchases, software subscriptions, e-commerce, and more. Financial decision-makers can control every cost with custom budgets and real-time tracking of transactions.
About TravelPerk
TravelPerk is the next-generation business travel platform pioneering the future of business travel. TravelPerk's all-in-one platform gives travelers the freedom they want whilst providing companies with the control they need. The result is saved time, money, and hassle for everyone. TravelPerk has the world's largest travel inventory alongside powerful management features, 24/7 customer support, state-of-the-art technology and consumer-grade design, all of which is enabling companies worldwide to get the most out of their travel. Backed by world-class investors like Kinnevik, Target Global, Felix Capital, Greyhound Capital, General Catalyst, Spark Capital, Heartcore, LocalGlobe, Amplo, 14W - investors in some of the most disruptive companies in tech including Zalando, Slack, Trello, Twitter, Farfetch and Delivery Hero - TravelPerk is reinventing business travel with an end-to-end solution that works. Visit www.travelperk.com for more information.
