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Palo Alto, California-based announced Thursday it had secured $400 million in credit facilities from and .

The new credit facilities come less than two months after the business travel startup raised a $304 million Series G at a $9.2 billion valuation. That round was comprised of $154 million in equity from new and existing financial investors and a $150 million structured capital transaction led by .

The new credit facilities consist of a $200 million warehouse debt facility from Goldman 鈥� with a $300 million total limit 鈥� and an asset-backed lending facility of $100 million led by Silicon Valley Bank.聽

Warehouse financings are popular with fintech companies 鈥� like TripActions with its credit card offering 鈥� as they can be secured by assets and loans those companies generate. TripActions will use the new credit to help grow its TripActions Liquid product, a corporate card and expense management platform.

鈥淭ripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment,鈥� , executive vice president and head of TripActions Liquid said in a . 鈥淲ith this new warehouse facility from Goldman Sachs, TripActions Liquid is well positioned to support its customers while continuing to innovate at a rapid pace.鈥�

Busy year

The new credit lines continue what has been a busy second half of the year for TripActions.

In September, the company had filed confidentially to go public sometime in 2023 and is aiming for a $12 billion valuation in Q2 of next year. The report also said has been hired to handle the listing.

The company then raised its Series G at a near decacorn status.

However, times have not always been good for the startup. TripActions looked like it would become one of the first casualties of COVID-19 when the pandemic took hold in March 2020. With all travel stopped, the company saw its revenue drop to $0. CEO and co-founder openly talked about the problems, including laying off 300 people.

However, in June 2020, the company was able to secure $125 million in debt and doubled down on its newly launched expense reporting platform鈥攁 platform that became popular as many were working from home and had new expenses.

Big-named investors in TripActions include , , , and .

Further reading:

• TripActions Near Decacorn Status With New Raise
• TripActions Looks To Thaw Out IPO Pipeline

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