platform HRS has acquired Itelya, a Germany-based travel invoice management
provider founded in 2010.
Terms of the deal
are not being disclosed but the entire Itelya team will become employees of
HRS has been
developing a financial technology for a few years and acquired
Conichi in 2019 to help build its payment products.
Now the company
says the acquisition of Itelya, which provides services in more than 180
countries, will solidify HRS’ standing as “the most traveler-centric lodging
leader and a true financial technology provider.” Itelya provides invoice
collection and data management tools to simplify payments to suppliers and VAT
reclaim for corporations.
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“Itelya’s decade-long expertise in global invoice management
enables us to scale much faster to serve our global client base. We’re excited
that their existing management team, along with all their highly talented
colleagues, are joining the HRS Group,” says Tobias Ragge, HRS CEO.
“Itelya is a centerpiece to the ecosystem we are building out. Our
lodging-as-a-service platform is comprehensive and unmatched, offering
corporations a superior option as they recalibrate for the resumption of
business travel. The fact that we own all of our technology solutions and
associated data models gives us a unique capability to innovate faster and
create the highest value for our customers.”