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TripActions acquires German TMC Comtravo
Corporate card and expense management firm TripActions is acquiring Comtravo, a travel management company serving the German, Austrian, and Swiss (DACH) and Scandinavian regions.
The agreement marks the second Europe-based acquisition for the TripActions Group, with the total investment across the United Kingdom and Europe exceeding $400 million in less than a year.
Comtravo offers regional expertise and inventory, including domestic rail, low-cost carriers, and ancillary air travel supply.
The localized support will double the number of agents available to assist travelers in Europe.
Combined, the TripActions Group will now support more than 7,500 customers and manage nearly $6 billion in total travel budget across more than 94 countries — with half of the group’s business now in Europe and the UK.
"When we looked across the industry, it became clear that the TripActions Group is the best positioned to take the European market," says Michael Riegel, CEO of Comtravo.
"With our strong customer and supplier relations, Comtravo will focus on ensuring that the combined group has the best product offering in the region.."
Berlin-based Comtravo was founded in 2015 by Riegel and Jannik Wassa.
In the span of eight months, the TripActions Group acquired Reed & Mackay; announced a first-of-its-kind corporate travel booking platform in partnership with Lufthansa Group; and launched its fintech-powered corporate card and expense management solution, Liquid, in EMEA.
The acquisition adds to the company’s rapid growth, with offices now in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv, and Lisbon.
"We’ve invested heavily across Europe over the past year and Comtravo is the perfect addition to build out our regional offering," said TripActions co-founder and CEO Ariel Cohen.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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