Volkswagen Financial Services acquire Hamburg-based business travel start-up Voya
Digital management of business trips serves as important addition for fleet customers
Braunschweig/Hamburg, 16 June 2020. Volkswagen Financial Services have taken over the Hamburg-based business travel start-up Voya and are thus continuing to invest in the future despite the corona pandemic. "With this acquisition, we are adding business travel management to our mobility offering for fleet customers," says Lars Henner Santelmann, Chairman of the Board of Management of Volkswagen Financial Services AG. "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."
Voya offers a digital travel assistant for companies as a smartphone app and for desktop use. The interaction between online platform and physical travel agency service enables business travelers to have their business trip planned and booked within a few minutes. The business travel platform can also be used as a white-label solution by companies in the travel and mobility industry. Fleet and travel management are gradually growing closer together in many companies and Volkswagen Financial Services will be able to provide their fleet customers with a corresponding offer in the future based on Voya.
"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," says Maximilian Lober, co-founder and one of the managing directors of Voya.
Voya will continue to exist as an independent company and brand in the market. Both parties have agreed not to disclose the purchase price.
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Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,571 employees worldwide – including 7,414 alone in Germany. Volkswagen Financial Services report total assets of around EUR 223.5 billion, an operating result of EUR 2.96 billion and a portfolio of around 21.5 million current contracts (as at: 31.12.2019).
Voya GmbH, based in Hamburg, was founded in 2015 by Florian Stege, Maximilian Lober and Pepijn Schoen. Voya offers a digital business travel solution for medium-sized companies, which can use the platform to plan, book and invoice travel funding in a simple and modern way. Customers include mid-sized firms such as Mymuesli, Savencia or BEOS as well as travel and mobility companies like Lufthansa City Center. More information can be found at www.voya.ai.