Published on : Wednesday, December 30, 2020
A travel and expense management startup, Navisteps has raised a pre-seed round of $1 million. The investment in the Singapore-based company, which was founded in 2019, has come from angel investors.
Navisteps will use the funding to expand the business in Asia as well as develop its technology.
The company aims to bring more automation to expense reporting as well as to track the cost of processing expense reports.
The company says its platform will make the whole travel and expense management process smoother.
It is also partnering with Traveloka, giving Navisteps access to direct partnerships with global travel suppliers for flights and accommodation.
Ken Tan, co-founder, Navisteps, says that while expense and travel management solutions are not new, they traditionally target large enterprises. We hope to bring the benefits of expense and travel management solutions to small and medium-sized enterprises (SMEs) through a subscription-based pricing model.
The startup is also planning new features for 2021 including last-minute trip cancellation, analytics for expenses and partner integrations.