The deal expands Navan’s AI-powered platform into Brazil, which represents 40% of Latin America’s corporate travel spending.
Navan (NASDAQ:NAVN) announced its first acquisition as a public company, agreeing to buy Smartrips, a Brazilian travel management firm. The move aims to bolster Navan’s presence in Latin America, a region where Brazil accounts for nearly 40% of corporate travel expenditure.
The acquisition aligns with Navan’s strategy of integrating local operators to scale its enterprise-grade travel and expense platform. Smartrips’ local expertise and supplier relationships will merge with Navan’s AI-driven technology, offering a unified solution for multinational companies operating in Brazil.
Navan’s platform already serves global enterprises, and this deal marks a step toward deeper regional penetration. No financial terms were disclosed.