NexTravel

NexTravel operated as a business travel management platform, founded in 2013 by Wen-Wen Lam and Alexey Pakhomov. The company launched in 2015 after participating in the Y Combinator accelerator program. Initially conceived as a consumer-facing leisure trip platform, the founders pivoted to focus on the corporate travel market, identifying a significant opportunity. NexTravel's platform was designed to streamline the entire business travel process for companies. It provided a centralized interface for booking flights, hotels, and rental cars, while offering companies tools to manage travel policies, track expenses, and generate detailed reports. This allowed businesses to gain control over their travel spending and ensure compliance with internal policies.

The company's revenue model was multifaceted; it did not charge booking fees to clients but instead generated income through licensing fees for its software and backend integrations with a company's HR and expense systems. By the time of its acquisition, NexTravel served over 700 business clients in the U.S., including notable companies like Yelp, Stripe, and Harry's, and had processed more than 300,000 trips. Key features of the platform included centralized booking, expense management, policy compliance, real-time reporting, and 24/7 customer support. A significant milestone in the company's history was its acquisition by Barcelona-based TravelPerk in January 2021. The acquisition was a strategic move for TravelPerk to significantly expand its presence and customer base in the U.S. market, incorporating NexTravel's technology, employees, and market expertise.

Keywords: corporate travel management, business travel platform, travel expense management, Y Combinator alumnus, travel booking software, employee travel, travel policy compliance, corporate booking tool, travel and expense, business travel solution, travel reporting, NexTravel, Wen-Wen Lam, Alexey Pakhomov, acquired by TravelPerk, travel management software, automated expense reports, itinerary management, supplier management, travel analytics