Navan

Executive Summary

Navan runs a top-tier internet-based system for business travel and company spending that combines booking trips with software that automatically matches receipts to bank statements. The business has reached a large yearly revenue of 900 million dollars and continues to grow at a high double-digit percentage rate while its yearly loss is shrinking toward 100 million dollars. By replacing existing big players like SAP Concur using software that thinks for itself and a design that is much easier for people to use, Navan has built a strong defense against rivals because employees actually enjoy using the tool. Important deals with Visa and Citi help improve its own internal financial technology and the way its company credit cards work. This upcoming first sale of stock to the public acts as an important sign for the health of the worldwide business travel industry and serves as a major test for the market price of fast-growing financial tech firms. The company remains a lead challenger in the movement to update how big corporations manage their daily spending.