Singapore-Based Navisteps Raises $1 Mn In Pre-Seed Round From Angel Investors
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Singapore-based Navisteps on Tuesday announced that it has raised $1 million in pre-seed funding from angel investors such as Yasuhide Fujii, partner of KPMG Advisory (Myanmar) Ltd, Takuya Aiba of SpringLiner and others.
The startup plans to utilize the fresh capital to drive new market expansion in Asia and further develop its platform.
Ken Tan and Charmaine Lim after taking inspiration from their own experience where they met issues on business travel solutions founded Navisteps in 2019. The firm is a local expense and travel management startup. It aims to solve challenges faced by companies by helping businesses manage their spending effortlessly by streamlining all aspects of expense and travel management into one easy-to-use, affordable platform that can be implemented in minutes.
Companies are allowed to set up their travel and expense policies as well as criteria based approval within the platform, thus simplifying the reviewing business expenses and travel. Other core features in the platform include expense report automation, integrated online travel booking tool as well as an analytics dashboard to offer actionable insights.
"While expense and travel management solutions are not new, they traditionally target large enterprises. We hope to bring the benefits of expense and travel management solutions to small and medium-sized enterprises (SMEs) through a subscription-based pricing model," said Ken Tan, co-founder of Navisteps.
The company is also partnering with popular southeast Asia’s popular travel and lifestyle booking platform Traveloka. In the future, the company will roll out features such as new partner integrations, enhanced expense analytics for its clients, and more. It will also launch flexible travel options. The company is actively looking to hire fresh talent and further expand its team.