(Reuters) -U.S. corporate travel and expense company Navan on Friday disclosed it had confidentially filed for a U.S. initial public offering, as investor optimism for new listings grow.
The terms of the offering were not disclosed.
Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival after a couple of fresh flotations received overwhelming investor support.
Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express and SAP Concur.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh Kuber)
