February 27, 2021

DIGITAL CFO ASIA

Transformative Insights for Finance

Navisteps secures USD$1 million pre-seed funding to scale up its expense & travel management platform

2 min read

Navisteps is also partnering with South East Asia’s leading travel & lifestyle booking platform, Traveloka, to widen access to direct partnerships with multiple global vendors.

By: Digital CFO Asia Newsroom | 28 Dec 2020

Image by Navisteps via https://www.navisteps.com/blog/navisteps-1million-preseed-funding/

Navisteps – an expense and travel management startup based in Singapore, announced today that it has raised USD$1 million in pre-seed funding from angel investors that include Mr Yasuhide Fujii, partner of KPMG Advisory (Myanmar) Ltd and Mr Takuya Aiba, CEO and Founder of SpringLiner. The funds will be utilised to drive new market expansion within Asia and bolster development of its platform. 

Navisteps was founded in 2019 by Ken Tan and Charmaine Lim after experiencing first-hand the issues of legacy expense reporting and business travel solutions. The duo, who brings in valuable experience from Nomura Securities, Citicorp Investment Bank, Seedly and Shopback, hope to solve this challenge by helping businesses manage their spending effortlessly by streamlining all aspects of expense and travel management into one easy-to-use, affordable platform that can be implemented in minutes.

Companies can set up their travel and expense policies as well as criteria based approval within the platform, greatly reducing the time managers spend on reviewing business expenses and travel. Other core features in the platform include expense report automation, integrated online travel booking tool as well as an analytics dashboard to offer actionable insights.

Navisteps is also partnering with South East Asia’s leading travel & lifestyle booking platform, Traveloka, to widen access to direct partnerships with multiple global vendors. This allows their enterprise users to have access to world-class inventory for flights and accommodation at exclusive, competitive prices.

“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”

Navisteps Co-founder Ken Tan.

In the upcoming year, Navisteps will be looking to expand the company by actively hiring for roles within various teams, to help roll out features that include new partner integrations, enhanced expense analytics for its clients, and more. In addition, Navisteps is also looking to launch a flexible travel option that covers last minute trip cancellation for any reason to help businesses tackle the uncertainties with post COVID-19 business travel.

You can view the original press release here.