Singapore-based travel management startup Navisteps has raised US$ 1M in a pre-seed funding round held in December 2020, from angel investors Yasuhide Fujii, a partner at KPMG Advisory Myanmar; and Takuya Aiba, the founder of marine-related investment firm SpringLiner.
Founded in 2019 by Charmaine Lim and Ken Tan, Navisteps operates an all-in-one business expenditure and travel management solution that provides companies/organizations and their workforces an effortless experience for all expenses, enabling them to function faster and leaner. It has a wide-ranging product portfolio that includes corporate travel booking services such as flight, hotel and group bookings, automated expense reporting to keep track of their ongoing expenditures, and a centralized analytics dashboard. All of its solutions provide companies worldwide to save time, money, and hassles.
It is on a mission to empower small and medium-sized businesses (SMBs) with consumer-grade tools to help them save money, improve efficiency and make their employees happy. The founders of Navisteps bring in years of expertise from companies like Nomura Securities, Citicorp Investment Bank, Seedly, and ShopBack to the startup. Navisteps said it looks to expand its team by planning to introduce new partner additions and expense analytics for clients in the coming year. It also aims to unveil a flexible travel option that includes last-minute trip cancellations to tackle the doubts brought by Covid-19. The startup is also collaborating with Southeast Asia’s major online travel and lifestyle platform Traveloka to amplify access to direct partnerships with numerous global vendors. This step gives Navisteps’ business clients access to an exclusive list for flights and lodging at inexpensive prices.
Co-founder Ken Tan said although expense and travel management solutions are not new, they usually target large businesses. The team hopes to bring the benefits of expense and travel management solutions to small and medium-sized businesses through a subscription-based pricing model.
About Yasuhide Fujii
In his role as the lead Advisory Partner at KPMG in Myanmar, Yasuhide Fujii-san is heading the Myanmar practice in their provision of services to international companies seeking to develop business partnerships through merger and acquisition, joint-ventures or strategic alliances. Under Fujii’s leadership, KPMG Advisory (Myanmar) Ltd provides various professional services, tax and accounting advisory as well as management advisory services, to international companies and investors entering into Myanmar market, one of the region’s hottest investment terminus.
About Takuya Aiba
Takuya Aiba has extensive experience in the shipping industry having worked for a well-reputed Japanese ship owning company prior to joining Fortis Bank transportation Asia. In 2010, he founded the investment/advisory company SpringLiner Pte. Ltd. together with his business partner Mr. Otto Jan van Diepen.
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