Corporate travel startup TripActions raises $275 million, valued at $7.25 billion

FILE PHOTO: A man walks with his luggage at Fiumicino Airport near Rome, Italy, May 17, 2021. REUTERS/Remo Casilli

(Reuters) - U.S. corporate travel and expense tech startup TripActions on Wednesday said it raised $275 million at a valuation of $7.25 billion, its second major fund raising event announced this year.

TripActions made a strong comeback from a sharp downturn in business due to the coronavirus pandemic last year that forced it to lay off a quarter of its staff. It has raised $780 million over the course of the pandemic, according to the company.