HQ Announces Investment from Amex Ventures to Accelerate Growth of Corporate Mobility Platform and Expand Globally Across the Travel Industry

HQ, an industry-leading global enterprise solution for corporate ground transportation (mobility), announced today that Amex Ventures has made an investment to help accelerate the rollout of enhancements to its mobility platform, targeting both large enterprises and small to medium-sized businesses (SMBs). The announcement was shared at the GBTA 2024, a premier global event for the business travel industry in Atlanta, Georgia.

HQ services clients internationally, including Fortune 500 companies, some of the world’s largest banking institutions and global law firms. In recent years, HQ has expanded its geographical footprint beyond the UK and US, with notable growth across APAC and EMEA to meet the needs of its large clients within the financial sector. This capital injection marks a milestone for HQ, which stands at the forefront of streamlining booking, billing, and payment for the global ground transportation and travel verticals.

The funding from Amex Ventures will support a number of initiatives, such as helping HQ to enhance its fintech and payment solutions, specifically by strengthening its travel and expense management technology. Additionally, the investment will support advancements in HQ’s next-generation payment and expense management solutions. HQ plans to also leverage this financial infusion across its R&D team, focusing on strengthening its existing AI and machine-learning technological capabilities. HQ will expedite further R&D resources across its powerful end-to-end platform with a continued commitment to providing customers with spend control, travel policy compliance, and global supplier coverage.

“We are thrilled to announce our latest funding round with Amex Ventures, which builds momentum for our vision of corporate mobility and our potential for long-term growth,” said Amiad Solomon, CEO and Co-Founder of HQ. “With Amex Venture’s strategic investment, we will focus on enhancing our fintech and payment solutions within our platform alongside market expansion. This funding positions us to better accelerate our technological development and deliver even greater value to our customers. I am excited for the road ahead as we evolve, expand, and re-envision business travel from the ground up.”

“We are excited about HQ’s mission to modernize the end-to-end ground transportation management experience for businesses around the world, and we look forward to helping them grow,” said Margaret Lim, Managing Director at Amex Ventures. “This investment comes on the back of HQ’s recent partnership with the Amex Sync Commercial Partner Program and underscores our strategic relationship with the company.”

In May 2024, HQ and American Express announced that U.S. Business and Corporate Card customers can issue American Express virtual cards in the HQ SummitGround platform to easily pay for rides in the platform where they are booking them. The integration, through the American Express Sync Commercial Partner Program, lets Card Members set limits and dates on the Cards and see transaction data in the platform. Large customers can also use SummitGround to make multi-use Cards for projects or other situations that need groups of rides.

The HQ SummitGround platform has solidified its position as an industry-leading solution for ground transportation, recently earning the prestigious 2023 BTN Innovator of the Year Award in New York City. A standout feature of this platform is its robust billing validation system, designed to swiftly identify and prevent invoice discrepancies and errors, such as incomplete or incorrect invoice data, duplication of rides and invoices, and incorrect charges within ride prices. When an error is detected, the system automatically prompts the supplier to correct and resubmit the invoice, enhancing spend visibility, minimizing invoice errors, and driving significant cost savings.

About HQ

HQ is an industry-leading end-to-end enterprise solution for corporate mobility globally. HQ delivers the technology that powers ground transportation with our ride booking, billing, and payment platform. As a leading corporate ground

transportation management provider, HQ supports a wide range of mobility services, from private taxis and chauffeured cars to ride-sharing and corporate shuttles. HQ serves blue chip clients internationally, including Fortune 500 companies, the world’s largest banking institutions, global law firms, and many more. To learn more about HQ, please visit hqtravel.com.

For more information about the HQ, visit www.hqtravel.com

Contact Information

Daniel Leon Stern

Head of Brand Marketing

HQ

daniel@hqtravel.com