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Ramp launches travel booking solution

Jun 4, 2024
Illustration of a pattern of airplanes.

Illustration: Brendan Lynch/Axios

Expense management company Ramp partnered with Priceline to let consumers book travel on its platform, the company announced Tuesday.

Why it matters: Travel is a significant part of employee spending, with multiple expense management players competing to get a larger slice of the pie.

Details: Travel and entertainment currently account for 20% of spending through Ramp, which earns interchange on top of that. That's up from 10% in 2021.

  • With the new offering, Ramp will also earn a percentage of the commission for directing consumers to hotels and airlines. The company says the offering will come at no extra cost to users.

Context: Ramp has historically earned most of its revenue through interchange, with the new offering adding an additional source (though one still correlated with spending).

Between the lines: Ramp users have long been able to book travel on competing travel platforms, including Priceline, using their Ramp card.

  • They can still do so with the new travel offering. But Ramp CEO Eric Glyman says the integration with Priceline creates more automation for its customers.
  • "Employees booking travel outside of a controlled platform have to manually check that they're booking in-policy and submit receipts later, potentially leading to awkward conversations with finance teams if there's misalignment in what a traveler did versus what the policy requests," he said.

State of play: Navan has its start as a business travel offering. Brex launched a travel offering last year. Rho last month partnered with Navan to offer travel booking.

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