TripActions continues European expansion with third acquisition, Resia
TripActions, which claims to be “the only” all-in-one travel, corporate card, and expense management solution, has acquired Resia, a Scandinavian travel management company.
Founded in 2015, California-based TripActions has been on a shopping spree in Europe following the arrangement of a $500 million credit facility in 2020 and a $275 Series F funding round in early 2022.
It also launched its corporate card and expense management solution – Liquid – at the end of last year in EMEA (in partnership with Stripe).
Resia is the start-up’s third European acquisition in nine months, following the takeovers of Comtravo in early February 2022 and Reed & Mackay in May 2021.
Founded in 1974 and headquartered in Gothenburg, Sweden, Resia brings nearly 50 years of regional industry and market expertise and “offers ideal positioning for further growth across the Nordics”, TripActions says.
The corporate travel agency also has a meetings and events (MICE) offering that drives more than a quarter of its sales volume, with capabilities that range from conference arrangements to the management of worldwide congresses.
With the addition of Resia, the group’s reach extends throughout the European continent, with office locations that include the UK, Ireland, and Sweden in the north; the Netherlands, France, and Germany in the west; and Portugal in the south.
Michael Riegel, founder and CEO of Comtravo, has been appointed as general manager of TripActions EMEA.
TripActions says it now supports more than 8,800 businesses around the globe, from start-ups to corporates.