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isibit

All-in-one platform for business travel for Latin America

Mexico
Market: Logging, Tourism, sport, Services
Stage of the project: Operating business

Date of last change: 23.09.2020
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Idea

The first all-in-one platform for business travel for Latam. TripActions for Latin America.
We align the incentives of companies and travellers to spend more efficiently being able to create savings up to 35% below travel policy, in addition, to improve the experience and safety for everyone involved through technology.

Current Status

We launched five weeks ago and already sold +$12,000 in bookings. Also, we have more than 1.8 million dollars in LOIs from some of the most important tech companies in the region.

Market

SMEs in Latin America

Problem or Opportunity

Business Travelers struggle with their companies bureaucracy to get reasonable and on-time booking options. **50% of companies in Latin America use e-mail to book** their business trips.

To comply with the travel policy, they **waste up to 4 hrs** to fill expenses reports and in some cases wait for uncertain periods to get reimbursements.

On the companies’ side, **travellers spend as much as their travel policy allows**, as the employees have no incentive to spend less than it.

Solution (product or service)

We created isibit, the **all-in-one platform for business travel**.

Companies create their travel policies, have total control and reporting of expenses. They can rely on isibit to have their policies comply. **Never have an out of policy expense again.**

**Companies save money** as their **travellers earn money** for each dollar they save to them. We align company-traveller incentives. isibit takes 25% of each dollar saved. We align the incentives isibit-company. **We align the incentives to everyone involved.**

isibit gives the company and their travellers **First Class Travel Services at no cost**.

Competitors

Completly unserved market. No tech-powered solutions in the region.

Advantages or differentiators

Miguel (CEO) and Angel (COO) meet at Rappi, where they lead the expansion throughout Latinamerica with more than 40 cities launched combined and other Managing roles. Antonio (CTO), is a serial entrepreneur with an IoT Vaccines Monitoring Startup and a Mobile Games Studio. They all met in an entrepreneur meet up event in Guadalajara.

Finance

15% take rate out of each dollar companies spend.

Business model

There are 300,000 companies in Latin America making business trips.

They spend on average, $150,000 each year in bookings, and travel expenses.

We have an average take rate of 15% out of each dollar the spend.

This is a $6.7B dollar opportunity.

Money will be spent on

Credit Card issuing
Own IATA Certificate
CFO Hiring
Commercial Team

Offer for investor

To be discussed

Risks

Market volatility due to COVID

Incubation/Acceleration programs accomplishment

Y Combinator S20

Won the competition and other awards

S20 Y Combinator

Photos

Photo 1 - All-in-one platform for business travel for Latin America

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video