Singapore: Navisteps, a Singapore-based expense, and travel management startup announced today it has raised US$1 million in pre-seed funding from angel investors that included Yasuhide Fujii, Partner at KPMG Advisory (Myanmar), and Takuya Aiba, CEO and Founder of SpringLiner.
As per a press release, the fresh funds will be utilized to bankroll market expansion in Asia and further develop its platform.
Navisteps was founded in 2019 by Ken Tan and Charmaine Lim after experiencing first-hand the issues of legacy expense reporting and business travel solutions. The duo brings in previous experience from Nomura Securities, Citicorp Investment Bank, Seedly, and Shopback to the startup.
The platform hopes to solve this challenge by helping businesses manage their spending by streamlining aspects of expense and travel management into an “easy-to-use and affordable platform”.
“While expense and travel management solutions are not new, they traditionally target large enterprises. We hope to bring the benefits of expense and travel management solutions to small and medium-sized enterprises (SMEs) through a subscription-based pricing model,” said Navisteps Co-founder Ken Tan.