TravelPerk Secures $200 Million in Series E Funding to Expand AI-Driven Travel and Expense Management Solutions

TravelPerk Secures $200 Million in Series E Funding to Expand AI-Driven Travel and Expense Management Solutions

(IN BRIEF) TravelPerk, a leader in business travel management software, has secured a $200 million Series E investment co-led by EQT Growth and Atomico, along with participation from other new and existing investors. The funding round, which boosts TravelPerk’s valuation to $2.7 billion, will be used to accelerate the company’s growth, especially in the US market, and drive further product development, technology, and AI initiatives. Recently, TravelPerk acquired Yokoy, a spend management platform, to create an integrated travel and expense management solution. The company aims to offer highly flexible, tailored solutions for small and medium businesses in Europe and the US while enhancing user experience and efficiency. TravelPerk has already achieved significant growth, including 50% annual revenue growth and EBITDA break-even by 2024.

(PRESS RELEASE) LONDON, 29-Jan-2025 — /EuropaWire/ — TravelPerk, a leading SaaS platform for business travel management, has secured a $200 million Series E investment to accelerate its growth, co-led by EQT Growth and Atomico, with new participation from Noteus Partners and Sequoia Capital. This funding round also saw continued support from existing investors, including General Catalyst, Kinnevik, Softbank Vision Fund, and Blackstone, bringing TravelPerk’s valuation to an impressive $2.7 billion.

As companies grapple with economic challenges and increasingly complex regulations, the demand for fully integrated travel and expense management solutions has surged. TravelPerk’s platform, which combines business travel with expense management in a seamless, automated system, addresses this need by simplifying and streamlining processes. With the recent acquisition of Yokoy, a top-tier spend management platform, TravelPerk is now positioned to offer small and medium-sized businesses in both Europe and the US highly tailored, flexible solutions that meet their unique needs, while preserving the freedom of choice.

Founded in 2015 and headquartered in Barcelona, TravelPerk has seen impressive growth, achieving a 50% increase in annual revenue over the past two years. The company also reached EBITDA break-even at the end of 2024. The new capital will be used to fuel further expansion, particularly in the US market, and to drive investments into product development, technology, and AI capabilities.

Carolina Brochado, Partner at EQT Growth, who will join the TravelPerk Board, praised the company’s leadership in the corporate travel market, saying, “TravelPerk is the clear digital-native leader in a multi-hundred-billion-dollar industry. Most small and mid-market businesses have been underserved in this space, but TravelPerk’s focus and ambition are setting them apart. Their innovative use of AI delivers faster, smarter service, and with the addition of Yokoy, TravelPerk has created a truly end-to-end travel and expense solution.”

JC Taunay-Bucalo, TravelPerk’s President and COO, highlighted the shift in customer expectations, stating, “For the first time, customers no longer have to choose between an integrated platform or separate, best-in-class solutions for travel and expense. TravelPerk’s unified approach delivers an excellent user experience for both travel management and expense solutions.”

Avi Meir, CEO and Co-Founder of TravelPerk, expressed excitement about the future, adding, “We are laser-focused on expanding across key markets, with a particular push in the US. Our collaboration with Yokoy has been incredibly successful, and we’re thrilled to take it to the next level. Together, we share a vision for how AI will reshape the future of travel and expense management, and the innovations coming out of Yokoy’s AI labs in Zurich are truly remarkable.”

About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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About TravelPerk
TravelPerk is a hyper-growth SaaS business travel platform and a pioneer in the future of travel for work. Its all-in-one platform gives travelers the freedom they want whilst providing companies with the control they need. The result saves time, money, and hassle for everyone.

TravelPerk has industry-leading travel inventory alongside powerful management features, 24/7 customer support, state-of-the-art technology, and consumer-grade design, which enable companies and organizations worldwide like Red Bull, GetYourGuide, and Aesop, to get the most out of their travel.

Backed by world-class investors like General Catalyst, Kinnevik, Softbank, and Blackstone, TravelPerk is reinventing travel for work with an end-to-end solution that works.

Visit www.travelperk.com for more information.

Media Contact:

EQT Press Office, press@eqtpartners.com

SOURCE: EQT