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.
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.
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**.
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.
15% take rate out of each dollar companies spend.
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