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TripActions Group Announces Fourth European Acquisition in 18 Months 

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Reed & Mackay Completes Purchase of Atlanta Events & Corporate Travel in Spain

 

The TripActions Group today announced that its premium brand, Reed & Mackay, has completed the acquisition of its long-standing partner, the high-end Spanish corporate travel, meetings & events company, Atlanta Agencia de Viajes, S.A., d.b.a Atlanta Events & Corporate Travel Consultants. This marks the fourth Europe-based acquisition by the TripActions Group in the past 18 months, adding Spain to the Group’s rapid expansion across Europe.

“Not only does Atlanta Events & Corporate Travel Consultants bring deep-rooted knowledge of the Spanish corporate travel, meetings and events market, its values also closely align with Reed & Mackay’s uncompromising focus on high-touch service,” says Reed & Mackay CEO, Fred Stratford.

Atlanta Events & Corporate Travel Consultants has been part of global service leader Reed & Mackay’s international partnership for more than a decade and will now be positioned to meet the increasingly global needs of its client base. Both TripActions’ and Reed & Mackay’s clients will gain enhanced expertise and content for the region.

Reed & Mackay’s Meetings & Events employee base has grown by 5x year-over-year to meet the explosion in demand. Meanwhile, Team Travel bookings on TripActions have averaged 38% month-over-month growth in 2022.

“As people look to meet face-to-face, meetings and events — including team onsites and offsites — are driving a large share of the recovery,” says TripActions Co-founder and CEO, Ariel Cohen. “From TripActions’ self-serve Team Travel platform to the expanding reach of Reed & Mackay, the TripActions Group’s clear vision of post-pandemic travel continues to bear out. We’re excited to extend this vision and reach into Spain.”

The acquisition of Atlanta Events & Corporate Travel Consultants by Reed & Mackay is the latest in a quick succession of investments by the TripActions Group as it doubles down in Europe. TripActions acquired Reed & Mackay in May 2021 and followed that with the addition of Comtravo in Germany and Resia in Sweden in February and March of 2022, respectively.

Founded more than 40 years ago as a family business, Atlanta Events & Corporate Travel is today recognised as a leading player in Spain. It now has offices in Andalucia, Barcelona, and Madrid and over 70 business travel and event experts on staff.

“We are delighted to lead the start of Reed & Mackay and TripActions in Spain, uniting strengths and guaranteeing the capability of offering all that companies need — now and in the future,” says Atlanta Events and Corporate Travel Consultants founder, Guillermo Fuster.

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Times International and SaaScada partner to deliver innovative trade and commerce financial solutions

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Global trade is forecast to increase between 30% and 70% by 2030, with 80% relying on trade finance. With traditional merchant banks struggling to meet the challenges of digitisation needed to deliver faster trade flows, Times International will focus on bridging the current supply chain funding gaps, offering market leading digital finance and FOREX services to SMEs in addition to insurance and logistics.

Times International will initially launch as a wholesale funded lender in the first quarter of 2023 and apply in parallel for approval to become a fully regulated Bank.

SaaScada’s flexible and scalable technology has been selected to deliver the core banking solution and the team will work closely with Times International to build a cohesive eco-system of financial technology suppliers.

This will deliver greater transparency and an elevated customer experience for all users across the full trade cycle which will deliver international trade finance to SMEs in the UK, continental Europe, and APAC.

Times International chose SaaScada’s core banking technology due to both the excellence of its platform and alignment of sustainability goals.  With an increased expectation for ESG accreditation driving behaviours, the need to simplify the supply chain through directly contracted trade has created a growing need for finance options for SMEs.

SaaScada’s data architecture is designed to enable fast and efficient reporting of financial data as well as consumption of external data, making it possible for Times International to interrogate data sourced from traditional market sources such as Bill of Lading & Customs Data in conjunction with their customer data. SaaScada’s data approach combined with open APIs, will enable one-click SME access to reporting across the Times International portal and minimise rekeying of data for faster and efficient customer verification, processing and approvals.

Importantly, the easy access to real-time data will facilitate both self-assessed and 3rd party assessment of ESG performance to ensure that transactions meet the criteria of green deposits.

Steve Round – ‘SaaScada are very excited to be part of this venture which will power finance to facilitate shorter supply chains and support SMEs to deliver more sustainable global commerce. We are very much looking forward to working closely with Times International to develop their offering and deliver real change in international trade.

Steve Rose – ‘Our partnership with SaaScada will enable us to offer finance solutions not traditionally available to SMEs in this space.  SaaScada’s unique data architecture and extremely flexible product configuration will enable us to support our customer base and respond quickly to their changing needs, which is especially important in the current global economic climate.  Culturally, their shared sense of purpose for sustainability and collaborative approach has made us a natural fit. 

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3S Money partners with Crown Agents Bank to boost international trade

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3S Money, the UK Fintech scaleup, has partnered with Crown Agents Bank to offer 33 new currencies to its corporate clients for the first time, to support their international growth.

The partnership will enable 3S Money’s clients to make payments in a total of 65 currencies, now including Brazilian Real, Ghanian Cedi, and West African Franc, and have access to 45 new local payment rails. This will help 3S Money’s client base scale faster into new markets, save time and increase their revenue. The partnership will also allow 3S Money’s clients to efficiently enter the African market for the first time.

Founded in 2018, 3S Money has chosen to work with Crown Agents Bank to offer these new currencies and payment rails because of Crown Agents’ secure global infrastructure and coverage. With nearly 200 years of experience, Crown Agents Bank is a UK-regulated provider of wholesale foreign exchange (FX) and cross-border payment services, connected across hard-to-reach markets.

Hard-to-reach (emerging) markets are home to 85% of the global population, and nearly 90% of people under 30. However, in 2022, payments to and from these markets are still challenging, expansive and unreliable. A McKinsey survey suggests that, with banks and non-bank players innovating to reduce friction in domestic and cross-border payments, Africa’s e-payments market is expected to reach about $40 billion by 2025, compared with about $200 billion in Latin America.

Aligned by their mission to promote global financial inclusivity, both 3S Money and Crown Agents Bank are dedicated to connecting emerging markets to the rest of the world, through FX and payments innovation.

Ivan Zhiznevskiy, CEO at 3S Money comments, “3S Money is a cross-border payments ecosystem for international businesses. Our purpose is to provide businesses with the guidance and financial services required to scale new markets and expand their footprint.”

“We believe that by eliminating passport discrimination in the financial services sector, the growth opportunities for global businesses will be limitless. Crown Agents Bank are the perfect partner to help us offer sustainable, affordable, and accessible FX and currency services in emerging markets that have a wealth of opportunity.”

Gary Willis, Relationship Banker at Crown Agents Bank said, “this partnership makes perfect sense in our mission to connect hard-to-reach markets to the global economy”.

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