Berlin and PALO ALTO, CA, March 1, 2022 — Navan, the only all-in-one travel, corporate card, and expense management solution, today announced its acquisition of Resia AB, a leading travel management company in Scandinavia. This is the third Europe-based acquisition for the Navan Group in nine months, following the addition of Comtravo in early February 2022 and Reed & Mackay in May of 2021.
Founded in 1974 and headquartered in Gothenburg, Sweden, Resia brings nearly 50 years of regional industry and market expertise to the group and offers ideal positioning for further growth across the Nordics. The corporate travel agency also boasts a strong meetings and events (MICE) offering that drives more than a quarter of Resia’s sales volume, with capabilities that range from conference arrangements to the management of worldwide congresses.
“The acquisition of Resia has significantly increased our market share in Scandinavia,” says Michael Riegel, the newly appointed General Manager of Navan EMEA. “Customers will be able to take full advantage of Navan’s superior product offering while Resia’s strong management team and deep market expertise will help spearhead Navan’s further growth in the Nordics.”
Navan’s revolutionary approach to travel and expense management — which consolidates manual and inefficient systems into a cloud-based, user-first platform designed to meet the needs of today’s workforce — has only accelerated in the wake of industry consolidation and digital transformation. A 93% compliance rate provides finance teams and travel managers with real-time visibility, generating 10–30% savings for customers. As a result, the company has seen explosive year-over-year customer growth.
With Navan Expense now in Europe, Resia’s customers will also have access to a truly unified corporate card and expense management solution that leverages contextualized data, such as company policy and trip details, to eliminate expense reporting.
"It's really exciting to see Navan entering the region with the acquisition of Resia," says Lotten Fowler, General Manager of the Swedish Business Travel Association. "Its innovative technology and global reach combined with Resia’s excellent reputation for customer-centric service will bring new energy to the Scandinavian market."
The group now supports more than 8,800 businesses around the globe, spanning all segments and needs, from self-serve startups to high-touch corporates. With the addition of Resia, the group’s reach extends throughout the European continent, with office locations that include the UK, Ireland, and Sweden in the north; the Netherlands, France, and Germany in the west; and Portugal in the south.
“Not only does Resia expand Navan’s reach to Scandinavia’s largest market, it also brings extensive experience and a complementary user-first approach,” says Navan co-founder and CEO, Ariel Cohen. “With companies returning to business travel in force, it’s never been more vital for companies to have the real-time visibility that only tech-forward solutions can provide. We are thrilled to welcome Resia to the team.”
Navan is the only modern, all-in-one travel, corporate card, and expense management solution, providing thousands of customers around the globe unprecedented visibility and control over spend. Trusted by travel managers and finance teams alike, Navan leverages real-time data to help companies keep traveling employees safe, reduce spend, and drive productivity. Learn more at www.navan.com.
With extensive experience and many years in the industry, Resia has helped customers to a better way of travel and arranged meetings that develop their business since 1974 Named Sweden´s best business travel agency nine times by the Business Travel Awards, Resia consists of experienced professionals that are passionate about finding the best solution for the customer. With a corporate culture and values that focus on Respect, Competence and Energy, Resia strives to constantly improve business with one clear goal: to make a difference for the customer.