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Triporate in the Business Travel sector


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Integral service around a transaction
BY : Diego GutiérrezJanuary Thu, 2020

 Triporate is a young and dynamic Spanish company that was created with the aim of improving efficiency and costs in corporate travel management.

In the first weeks of 2020, it sold part of its shareholding for €1.3m to old and new investors.

Its objective is clear: the development of its tool.

Nowadays, corporate travel management is a sector that allows increasing value in its different aspects.

This is demonstrated by the various movements in their corporate finances.

TRIPORATE

Triporate is a company that simplifies corporate travel using Artificial Intelligence..

Founded in 2017 in Madrid, in this time of activity it has managed around 5,000 trips per month for a hundred companies.

With the support of accelerators such as Wayra or Google for Startupsdeveloped a technological tool that automates the search for company trips.

It is also capable of reading an email, extracting the data needed for a trip and returning the most economical travel options to the company.

EFFICIENT SERVICE

Its service facilitates the booking of corporate travel.

Business trips tend to have a certain recurrence: teams often go to certain areas, use round-trip train tickets or go to a hotel of a certain cost.

So when a company signs up, the Triporate tool learns from its journeys.

HOW DO I BILL?

At present, it is paid by the commissions it receives from suppliers.

At the same time, however, it is developing additional services for companies, such as offering them access to a control panel, a check-in advance payment, flight claims or travel insurance.

Although the company could be profitable in its travel agency business alone, it plans to invest further in the development of its technology.

As a result, they do not plan to break even until the end of 2020.

ACKNOWLEDGEMENTS

Triporate has been a finalist in competitions for entrepreneurs such as the one for the South Summit or that of Travel Innovation Summit Madridand winner of the call for Startups of the Santander bank "The Call".

With this data, Triporate has a great opportunity to grow and develop its service.

SUPPORT FROM OLD AND NEW INVESTORS

In order to achieve this, at the beginning of this new 2020 sold part of its shareholdings in a round valued at 1,3M€.

It has done so thanks to the support of new and old investors.

We are talking about Archipelago Next, Tokavi, Reus Capital and the background "Travel Tech"of the accelerator Top Seeds Lab.

It has also received public funding from the CDTI and the backing of Bankinter y Aurorialwho had already trusted the firm in the past.

It is worth noting that some of these investors represent companies that could be customers of Triporate.

OTHER ROUNDS CONDUCTED IN THE SECTOR

BEONPRICE

It is a TravelTech company from SalamancaThe drivers are agility, innovation and organisation.

Beonprice has developed HQI, the only index in the hotel market that measures the overall quality of a hotel..

With it, the competitive position and price elasticity of demand in the market can be measured.

In order to further increase its more than 2,000 customers, this January it sold part of its shareholding in a series A round, for 2,5M€.

BAG ON BOARD

It is a Spanish company that partners with airlines to offer a check-in service to their passengers.

This can be done from anywhere in the city.

To develop further, Bag on Board has just sold part of its shareholding by 3M€.

Our diferentiation

Market Research Technology
Our team of market analysis specialists is continuously analyzing the investments of the most active markets in the industry in order to unceasingly contribute ideas of the current market situation and identify the most relevant trends for senior management. We integrate the most relevant sources of information which allows us to discover the most interesting companies for venture capital and similarly helps us to identify the investors with the highest probability of involvement in an M&A process to ensure the success of our sell-side operations.

The reports and deductions of our advisors provide a broad view of the sector, both geographically and from the complementary or adjacent markets perspective.
Technology Data Analytics
for M&A
Advanced data anlytics is a weapon". Intelfin is an artificial intelligence tool we use for investing and creating value in SMEs through competitive analytics and the enterprise environment.

IntelFin consists of a cognitive system, which, through the application of advanced analytical technologies, facilitates the automation of investment and financing decisions in the field of non-listed companies and especially SMEs in high-growth sectors.

The information related to these companies is characterized by their lack of transparency and heterogeneity; thus, it is necessary to develop an advanced analysis which is as much predictive as prescriptive and is developed in a natural language custom, suitable to obtain greater clarity and knowledge of the investment scope.

The IntelFin system focuses especially on analyzing the variables that define and influence the competitive environment of a sector and the positioning of a company, analyzing their influence on future value creation. Therefore, IntelFin supports strategic decision-making to senior management by resolving questions such as:

¿What are my competitors' priorities, strategies and expansion plans? Who's my competition? Which competitor is most likely to grow at a higher rate?
Which areas of activity/business models will receive the most investment? Which sectors are most attractive to investors?
Which companies are going to experience the most growth in the near future? Which companies are most likely to receive investment or be acquired?
Training Methodology
We have developed training programs in an innovative set-up which guarantees our teams the acquisition of technical competences both in the field of corporate finance and in the field of psychology, that is much needed when it comes to negotiation processes.

We have a culture of continuous improvement of our processes, closely related to the use of information systems that allow the enhancement of internal communication between our teams, as well as external communication with our customers. Hence, we extend best practices identified internally in an efficient and rapid manner among our members.

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