Isibit

Isibit is a company targeting the corporate travel market in Latin America, an area where many companies still rely on manual processes like email for booking trips. Launched in October 2019 and based in Guadalajara, Mexico, the company provides an all-in-one platform for business travel. The founders, Miguel (CEO) and Angel (COO), met while working at Rappi, where they were instrumental in the company's expansion across more than 40 cities in Latin America. They are joined by Antonio (CTO), a serial entrepreneur with a background in IoT and mobile gaming.

The platform allows client companies to establish and enforce travel policies, giving them full control and reporting over travel expenditures. A key feature of Isibit's business model is the incentive alignment between the company and its traveling employees. When an employee spends less than the allocated budget for a trip, they receive a portion of the savings. This model encourages cost-effective booking decisions. Isibit generates revenue by taking a 25% share of every dollar saved by the company, positioning itself as a partner in cost reduction. The service aims to streamline the booking and expense reporting process, which can take employees up to four hours per trip with traditional methods.

Isibit serves small and medium-sized enterprises (SMEs) in Latin America. The company identified a significant market opportunity, noting that approximately 300,000 companies in the region undertake business travel, with an average annual expenditure of $150,000 each. Their revenue model is based on an average take rate of 15% of each dollar spent by these companies on travel. Shortly after its launch, Isibit reported sales of over $12,000 in bookings and had secured letters of intent valued at more than $1.8 million from major tech companies in the region.

Keywords: business travel, Latin America, corporate travel management, travel and expense, expense management, travel policy, cost savings, SME travel, Guadalajara, Rappi alumni, travel technology, B2B travel, corporate booking tool, travel expense reporting, employee incentives, travel budget, financial technology, SaaS