Travel-tech platform Navan raises US$923 million in IPO ahead of Nasdaq debut

Navan Inc., a business-travel and expense-management technology firm, raised roughly US$923 million in its initial public offering by pricing at US$25 per share and valuing the company at about US$6.2 billion. The company serves clients including Shopify and Zoom Video Communications and integrates AI-driven features across travel-booking, payments and expense workflows. The IPO signals renewed investor appetite for growth tech despite macro uncertainty and comes after a brief pause in new listings earlier this month.