Expenses firm Navan launches bank partnerships across Europe
Combining AI with expense management, the fintech acts as the link between banks and businesses to centralise expenses
All-in-one travel and expense solution Navan is taking its ‘bring-your-own-card’ technology across Europe.
The Palo Alto-based fintech was founded by CEO Ariel Cohen and chief technology officer Ilan Twig in 2015 with the aim of making travel and expenses easier.
‘Navan Connect’, which enables businesses to both access its travel and expense solution and also continue working with their existing bank partners, launched in the US and is now landing in Europe.
“Today’s workforce is spread across the globe, and so are travel and expenses,” Navan Expense general manager Michael Sindicich said.
“Bringing Navan Connect to Europe will make it easy for multi-national companies with offices in the region. Navan's promise to our customers is clear: we work hard to create smart solutions that help you manage expenses worldwide.”
The solution has availability across nearly 250 global banks, allowing companies to continue to use their banks and cards while connecting to Navan.
“Before Navan, a lot of people were paying expenses out of pocket, invoicing was manual, and it was hard from a finance perspective to control expenses or get proper reporting — a tedious process for our employees,” Sumup senior talent acquisition partner Victoria Tuong said.
“Thanks to Navan, I have a partner for managing expenses and reporting. Our previous solutions were time-consuming, multilayered, and non-intuitive.”
Tuong said the company’s all-in-one solution has resulted in “significant time savings”, managing all trips and expenses in one platform.