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TravelBank develops a travel and expense system targeting small and medium businesses. The software predicts expenses and gives cash rewards if users can maintain their expense under the budget. It automates expenses for entire company with receipt-to-credit card pairing technology and advanced machine learning to gain productivity.
PRODUCTS & SERVICES
The platform helps businesses to track their employee expenses and approve it from their mobile device. It also helps them to encourage better spending decisions and reduce their T&E spend by offering rewards to their employees.
TravelBank will be free to use at first, and though it plans to monetize it doesn’t have definitive plans for now. Eventually, it could charge per-seat or a percentage of savings. They follow the bottom-up distribution process popularized by Dropbox
Small and medium businesses
The company's patent-pending technology leverages advanced machine learning to complete the expense reports faster for both trip and local expenses to small entrepreneurs.
BOARD MEMBERS AND ADVISORS
NUMBER OF EMPLOYEES
Duke Chung (CEO); Reid Williams (CTO)
DATE OF LAST FUNDING
SERIES A · $10 M · Oct 2016
SERIES B · $25 M · Aug 2017
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