Volkswagen acquires travel start-up

Despite it being a very turbulent time in the travel industry right now, automotive giant Volkswagen has ventured on in with the acquisition of a Hamburg-based start-up.

Through its financial services arm, Volkswagen has taken over Voya, a digital travel assistant for companies that enables business travellers to have their trip planned and booked within a few minutes.

The platform can also be used as a white-label solution by companies in the travel and mobility industry.

Voya will continue to exist as an independent company and brand in the market. Both parties have agreed not to disclose the purchase price.

Volkswagen Financial Services noted that with fleet and travel management gradually growing closer together in many companies, it will be able to provide its fleet customers with a corresponding offer in the future based on Voya.

“With this acquisition, we are adding business travel management to our mobility offering for fleet customers,” Volkswagen Financial Services chairman Lars Henner Santelmann said.

“We are delighted that we have been able to bring Voya on board in these turbulent times and can thus help steer an innovative start-up into somewhat calmer waters.”

Maximilian Lober, co-founder and one of the managing directors of Voya, said: “When we developed our platform, it was clear to us from the very beginning that the digital booking and processing of business trips called for an integrated approach.

“As one of the first players in the market, we have already combined travel booking and travel services for business customers with Lufthansa City Center.

“We are very pleased indeed that we are now able to join up with Volkswagen Financial Services, one of the world’s largest providers of mobility services, and develop mobility solutions together.”

Featured image source: iStock/Ilari Nackel

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business travel business travel start-up start-up Travel Start Up travel tech travel technology volkswagen Volkswagen Financial Services Voya