Navan, the Business Travel and Expense Startup, Files for IPO Amid Booming Deal Market

Business travel and expense management startup Navan filed for an IPO on Friday, planning to list on Nasdaq under the symbol “NAVN.” Its S-1 filing shows $613 million in trailing 12-month revenue (up 32%) and $7.6 billion in gross bookings (up 34%) from over 10,000 customers. Goldman Sachs and Citigroup will lead the offering. Navan, ranked No. 39 on CNBC’s Disruptor 50, enters a recovering IPO market with strong deal activity and notable AI and fintech companies going public. Founded in 2015 by Ariel Cohen and Ilan Twig, Navan aims to modernize business travel, replacing legacy tools and fragmented workflows.