Navan, one of the global AI-powered travel and expense management platforms, announced on June 18th that it has signed a definitive purchase agreement to acquire Smartrips, one of the leading Brazilian travel management companies. The transaction will mark Navan’s first acquisition as a public company and extend the company’s footprint deeper into Latin America, one of the largest and fastest-growing segments of the global corporate travel market.
Following the integration of Smartrips, Navan customers with operations in Brazil will no longer need to direct local teams to partner sites or off-platform booking systems; instead, employees can seamlessly book, manage, and track all Brazilian travel directly within the core Navan platform. By consolidating this historically fragmented spend onto a single, integrated interface, Navan delivers the unified experience and real-time spend visibility that modern finance teams demand.
“Global enterprises want a single, integrated travel platform, no matter where they’re booking, and that’s what the addition of Smartrips is all about,” said Michael Sindicich, President of Navan. “Together, we will be able to better serve new and existing customers, and we know that we’re such a great fit because we already partner together in Brazil, a critical market for any company with a global travel program. The combination of Navan’s world-class technology with Smartrips’ deep supplier relationships, local expertise, and IATA credentials will enable us to offer a level of service that legacy TMCs simply cannot match.”
Brazil is a top 10 global market and the largest for corporate travel in Latin America, accounting for an estimated 40% of travel spend in the region. With global enterprises demanding a seamless, AI-powered experience regardless of where employees are booking, the acquisition helps position Navan to capture a greater share of its USD 185 billion market opportunity.
“When we founded Smartrips, we were impressed by the cutting-edge solutions available in the United States and Europe. We’ve been inspired ever since to offer the same world-class service in Brazil,” said Caio Artoni, Co-Founder and CEO of Smartrips. “Joining Navan provides our customers with access to the most powerful travel and expense platform in the world, backed by local expertise they can count on. We have long admired what Navan has built, and we’re proud to be joining them and bringing that experience to travellers in Brazil.”
The acquisition of Smartrips will follow similar efforts by Navan over the past five years to expand internationally by acquiring market-leading local operators with deep supplier relationships. As it has done with Comtravo in Germany, Tripeur in India, and what it is currently in the process of doing with Reed & Mackay in the UK, Navan will look to integrate Smartrips’ capabilities onto its platform and extend its enterprise-grade experience to a new geography without sacrificing local expertise.
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