Travel booking company Navan, formerly TripActions, will reportedly hold its IPO on Nasdaq next week at a company valuation of $7-8 billion. The company plans to raise about $1 billion at a considerably higher valuation than the $6.45 billion set in its prospectus.
According to the prospectus filed with the US Securities and Exchange Commission (SEC), Navan plans to issue 36.9 million shares at a price range of $24 to $26 per share, with the range likely to be adjusted upward as the IPO date approaches. The flotation is being led by Goldman Sachs, Jefferies and Morgan Stanley, and the company will trade under the NAVN ticker.
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Business travel platform Navan aims for $6.45b IPO valuation
Navan was founded in 2015 by Israeli entrepreneurs Ariel Cohen and Ilan Twig, and is headquartered in Palo Alto, California, with a large development center in Israel. The company has developed a platform for managing travel, payments and expenses for employees and organizations, and has expanded beyond the business travel market in recent years.
The company’s major Israeli investors include Oren Zeev, who led the seed round through Zeev Ventures and currently holds about 17%-18% of the shares, and Dovi Frances’ Group 11 fund, which has participated in most of the company’s funding rounds since its inception and holds about 2.5%.
In 2022, Navan completed a financing round at a valuation of $9.2 billion, but since then valuations have declined in line with the slowdown in capital markets. If the IPO is completed according to the new target, it is expected to be one of the largest IPOs by a company with Israeli roots in recent years.
Published by Globes, Israel business news – en.globes.co.il – on October 22, 2025.
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