Travelbank
AcquiredFounded 2015 · 66 employees on LinkedIn · 6 known investors
Find your way into Travelbank
151 people in our graph share verified history with the Travelbank team — schools, employers, funds. One of them is your warm intro.
TravelBank is a travel and expense management platform for companies that guides employees to stay within budget through customizable travel policies, real-time analytics, and integration with existing corporate card and expense systems. The platform serves mid-to-large enterprises seeking to manage employee travel spend and streamline expense reporting across their organization.
Also known as Travelator, Inc. · TravelBank
Founders & leadership
Travelbank was founded in 2015 by Duke Chung.
Investors · 6
Also in the syndicate · 1
Company profile
researched Aug 2026TravelBank operates a combined corporate travel booking, expense management, card reconciliation and reporting platform sold to businesses. Its product set covers expense tracking, travel booking for flights, hotels and cars with configurable budgets and approval workflows, corporate card syncing and instant virtual card issuance, and customizable analytics described as Premium Insights. The platform integrates with ERP, HR and banking software, including QuickBooks, Bill.com, Xero, NetSuite and the Brex card, so that expense categories map to the customer's general ledger. TravelBank is an accredited travel management company and acts as agent of record for its bookings, providing in-house travel agents and 24/7 support at no additional cost, with access described as over 200 airlines and one million hotels [0][1][2][6].
A distinguishing element is TravelBank Rewards: a proprietary algorithm uses real-time pricing data to set a budget for a given trip or hotel, and employees who book below that budget receive a share of the savings as rewards redeemable with consumer services such as Amazon gift cards, Uber, Lyft and Airbnb. Rewards are funded by the customer company out of the savings generated [5][6]. The company was built mobile-first, with a free iOS and Android app for receipt capture, automated card-transaction matching via machine learning, receipt forwarding by email, and booking [2][3].
TravelBank is now a U.S. Bank company and powers expense management, travel and reporting for U.S. Bank's commercial card programs, including an exclusive integration with the U.S. Bank Instant Card for virtual card issuance, budgets, expiration dates, contactless payment via Apple Pay and Google Pay, and general-ledger sync [0][1][4]. The Google Play listing gives the developer entity as Travelator, Inc., in Daly City, California [3]."ropertyless
Founding story
Co-founder and CEO Duke Chung has said the idea came while he was working with a very large technology company, where he found that an individual employee's business travel and expense spend could reach as much as $40,000 per month. Reviewing the data, he concluded that corporate systems encouraged employees to maximize personal points and credit-card rewards rather than protect company budgets, and framed TravelBank as an effort to modernize expense and business travel management [2]. Chung founded the company in 2016 after previously founding customer service software company Parature, which was sold to Microsoft; Accel had invested in Parature and Accel partner Rich Wong cited that prior relationship in backing TravelBank [5][7].
Business model
TravelBank sells software for corporate travel and expense management alongside travel booking services. At the time of its Series B, the software was offered free to companies and the company earned revenue through commissions from airlines on bookings [5]. Current materials also reference paid and premium elements, including a one-time fee for building a negotiated hotel rate program, and the platform is distributed in conjunction with U.S. Bank commercial card and Instant Card programs [4][6].
Commissions from airlines on business travel bookings were the stated monetization mechanism when the software was free to companies [5]. The company additionally charges a one-time fee for hotel program rate negotiation, and rewards paid to employees are funded by the customer company from realized savings [6].
Traction
TravelBank reported 800 companies signed up within its first nine months as of August 2017 [5]. The company's site states that more than 45,000 companies choose TravelBank [0][1]. The Android app lists more than 50,000 downloads [3]. A 2024 Forrester Consulting Total Economic Impact study commissioned by TravelBank reported 240% ROI, 40% savings on subscriptions, 10% savings per trip and policy adherence improving from 40% to 91% [6].
Latest developments
TravelBank has published announcements covering its role in U.S. Bank card programs, the addition of easyJet flight inventory to expand intra-European booking, and an NDC partnership with Singapore Airlines offering customized fare content to business travelers [2]. Recent product updates listed on the site include a submission block when a reimbursement bank account is missing, in-platform cancellation of flight credit booking requests that restores the credit, and car rental travel policies [0][1]. The company also published a 2025 State of Business T&E report [0].
▸Full profile — market position, technology, go-to-market, geography, history
Market position
The company positions itself as an end-to-end alternative to incumbent travel and expense systems; at its Series B, CEO Duke Chung framed the opportunity as building better business travel software than Concur, which SAP acquired for more than $8 billion in 2014, and TechCrunch identified TripActions and Rocketrip as startups pursuing similar savings-incentive models [5]. TravelBank cites 45,000-plus companies on the platform, a 2024 U.S. News & World Report designation as best booking, travel and expense tool, 4.5 stars on G2 and 4.7 on Capterra [0][6].
TravelBank describes itself as the only expense and travel management company offering a complete end-to-end solution spanning expenses, travel, in-house customer support, rewards and a travel marketplace [2]. Its savings-sharing rewards model, which converts under-budget bookings into employee rewards redeemable with consumer services, was the focus of its Series B coverage [5][6]. Ownership by U.S. Bank and the resulting card program integration, including Instant Card virtual cards, is a further point of distinction [0][4].
Technology
Mobile-first applications for iOS and Android with automated receipt scanning, machine learning that pairs receipts with card transactions, and email receipt forwarding, complemented by a desktop application [2][3]. A proprietary algorithm uses real-time pricing data to compute trip and hotel budgets used for policy enforcement and rewards, and the Instant Card integration uses proprietary authentication technology for Apple Pay and Google Pay provisioning intended to reduce fraud and avoid additional bank approvals [4][6]. Integrations connect the platform to ERP, HR, accounting and banking systems [0][6].
Go-to-market
TravelBank markets self-serve onboarding and a free mobile app for individual travelers and teams alongside a demo-driven sales motion, customer stories and a partner program [0][6]. Distribution is closely tied to U.S. Bank, which the company describes as an exclusive partnership around the U.S. Bank Instant Card and commercial card programs [4]. The founder has said the company acquired hundreds of new users across organizations each day with very little marketing [7]. Airline distribution partnerships, such as easyJet inventory and a Singapore Airlines NDC agreement, are also announced publicly [2].
Businesses managing employee travel and expense spend, with an early focus on small business [5]. Current positioning addresses finance teams, accountants, travel managers, executives and employees, and industry segments including food and beverage, healthcare, manufacturing, computer software and technology, and construction; U.S. Bank commercial card and Instant Card holders are a specific channel, with use cases spanning event planners, recruiters, contractors and consultants [0][2][4].
Geography
The company is based in the United States, with the app developer address listed in Daly City, California, and U.S.-based travel agents providing support [3][5]. Travel content spans international inventory, including expanded intra-European flight options through easyJet and a Singapore Airlines NDC partnership [2][6].
History
TravelBank was founded in 2016 [7]. It raised a $10 million Series A from NEA and Accel, followed in August 2017 by a $25 million Series B led by DCM Ventures with NEA and Accel participating; at that point the company reported 800 companies signed up in its first nine months and planned to grow from roughly 30 to 60 employees within the year [5]. By the time of a later founder interview, total funding was described as $35 million [7]. The company subsequently became a U.S. Bank company and now underpins expense, travel and reporting for U.S. Bank commercial card programs [0][1][4].
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
2 people who came through Travelbank went on to found or lead other companies.
Competitors · 10
by search overlap
Companies competing with Travelbank for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 5
launches, deals, and filingsTravelBank's website identifies it as "TravelBank — A U.S. Bank Company" and an affiliate of U.S. Bank, and links to information about the acquisition. TravelBank powers expense management, travel and reporting for U.S. Bank's commercial card programs.
TravelBank offers an integrated virtual card, expense management and travel solution for U.S. Bank Instant Card customers, including budgets, expiration dates, contactless payment through Apple Pay and Google Pay, and general ledger sync.
TravelBank added Singapore Airlines New Distribution Capability booking features within its platform to offer more customized travel options to business travelers.
TravelBank expanded its European flight inventory by making easyJet flights bookable on its platform to enhance intra-European travel options.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Travelbanktravelbank.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Travelbank do?
- TravelBank is a U.S. Bank-owned corporate travel, expense and card management platform for business spend.
- Who founded Travelbank?
- Travelbank was founded by Duke Chung in 2015.
- Who are Travelbank's investors?
- Travelbank's investors include Conductive Ventures, DCM Ventures, Dreamers VC, New Enterprise Associates (NEA), Propel Venture Partners.