Navan, the business travel, payments and the spending start-up, deposited Friday afternoon to make public.
His S-1 file with the Securities and Exchange Commission indicates that the company plans to list on the world Nasdaq market under the symbol “Navn”.
Navan reported a turnover of $ 613 million (up 32%) on more than 10,000 customers and gross reserve of $ 7.6 billion (up 34%), according to S-1.
Goldman Sachs and Citigroup will act as main book managers for the offer offered.
Navan ranked n ° 39 on the CNBC Disruptor 50 list of this year, and also made the 2024 list.
The stock market IPOs rebounded this year, with a transaction activity up 56% between 156 transactions (approximately 200 Introduction files on the stock market in all) and $ 30 billion in product, up more than 23% of one year on the other, according to the IPO Renaissance Capital tracker. It was the best year for the IPO since 2021, although well below the cocovast offering years of boom, when more than $ 142 billion (2021) and $ 78 billion (2020) were collected by IPOs.
This year’s transaction flow has been highlighted by hot AI names like Coreweave, as well as some of the most appreciated companies in the world of startups in the last decade, such as Fintech Klarna and the Figma design firm, Circle, Bulsh and Gemini cryptographic societies, and certain introductory candidates have finally hit the market, week, although his actions have slipped since the first day. The best Amazon reseller model became public on Friday.
Other startups should conclude agreements given the increased appetite for investors.
THE ETF IPO Renaissance is up 20% this year.
Launched by CEO Ariel Cohen and the co-founder Ilan Twig in 2015, Navan decided to disrupt a business travel sector where holders relied on clumsy inherited tools and fragmented workflows.
The company based in Palo Alto, formerly called Tripactions, refers to itself as a “great all-in-one application” for travel and business spending.
Customers include Unilever, Adobe, Christie’s, Blue Origin and Geico.
He also pushed further into the AI, with a virtual assistant named Avou Gantant approximately 50% of user interactions in the six months completed on July 31, according to the file, and an IA property framework called Navan Cognition taking charge of his platform, as well as Cloud De Private infrastructures.
“We have built Navan for road warriors, for CEOs and financial directors who include Travel’s critical importance for their strategy, financial teams that require precision and control, executive assistants juggling with the routes and administrators of the program ensuring transparent events,” wrote the co-founders in a letter of introductory.
“We have seen the frustration of clumsy and obsolete systems in the first hand. The travelers were forced to tinker with solutions, wait for hours on hold to book or change their trip, and negotiate with travel agents. They found it difficult to adhere to business policies, with little visibility in these policies, and after all, they have spent even more time and spending. Apply policies, and the frustration of suppliers unable to connect directly with high-value business travelers they have sought to serve, “they wrote in the file.
The company is preparing for a possible IPO since last year, when it made several key steering measures linked to the plans. Navan is supported by major investors, notably Andreessen Horowitz, Cotue, Goldman Sachs and Lightspeed. Navan has raised more than $ 1.5 billion in fundraising to date and has been valued for the last time at $ 9.2 billion.
Turnover increased from 33% in annual shift, going from $ 402 million during the fiscal year 2024 to $ 537 million during the year 2025, according to the S-1 file. The company declared a net loss which decreased by 45% in annual shift, going from $ 332 million in the financial year 2024 to 181 million dollars in the financial year 2025. Losses increased by 8% in the last six -month period included in the deposit, against 93 million dollars for the six months closed on July 31, 2024 to 100 million dollars for six months for six months completed at 31%, 2025. Exercise 2025.
The travel and business expenditure space is crowded, with Ramp and Brex disruptive colleagues, and Travelperk, as well as holders like SAP Competant and American Express Global Business Travel.
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