Tripactions acquires Comtravo
Janina Gerhardt
| 08.02.2022
U.S.-based travel platform acquires German business travel specialist Comtravo, completing its second acquisition in Europe.
Travel platform Tripactions is acquiring Berlin-based startup Comtravo, the company announced today. This is the second acquisition in Europe for Tripactions. Comtravo is one of the fastest growing business travel companies in Germany, Austria, Switzerland and Scandinavia.
Michael Riegel and Jannik Wässa co-founded Comtravo in 2015 and developed software that makes travel suggestions based on customers' previous booking behavior and preferences. They can book these suggestions with one click. This has enabled the company to attract investors such as Microsoft Venture Fund and Deutsche Bank in the past.
With the acquisition, Tripactions Group will serve more than 7,500 customers in over 94 countries. According to the company, it manages travel budgets with a volume of almost six billion US dollars. Half of its revenue is generated in Europe and the United Kingdom, it said. "With its proprietary technology, the Tripactions Group is regarded as a global pioneer in modern travel management and is therefore ideally positioned to conquer the European market together with us," says Comtravo CEO Michael Riegel, commenting on the acquisition.
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Comtravo
Software to simplify the booking of business trips.
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