Triporate is a young and dynamic Spanish company that was created with the aim of improving efficiency and costs in corporate travel management.

In the first weeks of 2020, it sold part of its shareholding for €1.3m to old and new investors.

Its objective is clear: the development of its tool.

Nowadays, corporate travel management is a sector that allows increasing value in its different aspects.

This is demonstrated by the various movements in their corporate finances.

TRIPORATE

Triporate is a company that simplifies corporate travel using Artificial Intelligence..

Founded in 2017 in Madrid, in this time of activity it has managed around 5,000 trips per month for a hundred companies.

With the support of accelerators such as Wayra or Google for Startupsdeveloped a technological tool that automates the search for company trips.

It is also capable of reading an email, extracting the data needed for a trip and returning the most economical travel options to the company.

EFFICIENT SERVICE

Its service facilitates the booking of corporate travel.

Business trips tend to have a certain recurrence: teams often go to certain areas, use round-trip train tickets or go to a hotel of a certain cost.

So when a company signs up, the Triporate tool learns from its journeys.

HOW DO I BILL?

At present, it is paid by the commissions it receives from suppliers.

At the same time, however, it is developing additional services for companies, such as offering them access to a control panel, a check-in advance payment, flight claims or travel insurance.

Although the company could be profitable in its travel agency business alone, it plans to invest further in the development of its technology.

As a result, they do not plan to break even until the end of 2020.

ACKNOWLEDGEMENTS

Triporate has been a finalist in competitions for entrepreneurs such as the one for the South Summit or that of Travel Innovation Summit Madridand winner of the call for Startups of the Santander bank "The Call".

With this data, Triporate has a great opportunity to grow and develop its service.

SUPPORT FROM OLD AND NEW INVESTORS

In order to achieve this, at the beginning of this new 2020 sold part of its shareholdings in a round valued at 1,3M€.

It has done so thanks to the support of new and old investors.

We are talking about Archipelago Next, Tokavi, Reus Capital and the background "Travel Tech"of the accelerator Top Seeds Lab.

It has also received public funding from the CDTI and the backing of Bankinter and Aurorial, which had already placed their trust in the firm in the past.

It is worth noting that some of these investors represent companies that could be customers of Triporate.

OTHER ROUNDS CONDUCTED IN THE SECTOR

BEONPRICE

It is a TravelTech company from SalamancaThe drivers are agility, innovation and organisation.

Beonprice has developed HQI, the only index in the hotel market that measures the overall quality of a hotel..

With it, the competitive position and price elasticity of demand in the market can be measured.

In order to further increase its more than 2,000 customers, this January it sold part of its shareholding in a series A round, for 2,5M€.

BAG ON BOARD

It is a Spanish company that partners with airlines to offer a check-in service to their passengers.

This can be done from anywhere in the city.

To develop further, Bag on Board has just sold part of its shareholding by 3M€.