Barcelona-based TravelPerk, Europe’s top business travel platform, has secured $200M in a Series E funding round. The oversubscribed round, led by Atomico and EQT Growth, included participation from Noteus Partners, Sequoia Capital, and existing investors such as General Catalyst, Kinnevik, Softbank Vision Fund, and Blackstone. This fresh investment doubled TravelPerk’s valuation to $2.7B, cementing its leadership in the business travel space.
The company plans to utilize this funding to fuel its growth, focusing on expanding its presence in the US market—following its 2024 acquisition of AmTrav—and advancing product development, technology, and AI capabilities.
Recognizing the increasing demand for unified solutions, TravelPerk has strategically acquired Yokoy, a leader in AI-powered expense, invoice, and payment processing. This move highlights the company’s focus on combining travel and expense management into a streamlined platform, improving cost control and simplifying processes for businesses.
Yokoy brings significant assets, including over $100M in funding, more than 700 clients, and a history of successful collaboration with TravelPerk since 2020. High-profile clients like Breitling and Medskin underscore the value of this partnership. Philippe Sahli, Yokoy’s CEO, stated: “Together, we’ll deliver an unprecedented experience to our customers.”
This acquisition follows TravelPerk’s previous strategic moves—Albatross (2020), NexTravel (2021), and AmTrav (2024)—strengthening its AI capabilities and market positioning.
The Yokoy acquisition and Series E funding cap off an impressive year for TravelPerk. With annual booking volumes exceeding $2.5B, revenue surpassing $200M, and over 50% annual growth, the company has reached EBITDA break-even by the end of 2024.
Key growth drivers include strategic acquisitions, cutting-edge product offerings, and investments in R&D. TravelPerk’s platform addresses modern customer needs with AI-powered management tools, flexible options, sustainability features, and transparent booking processes. Its integration with popular business tools and 24/7 support ensures a seamless experience for businesses.
The global corporate travel market has rebounded to $1.5T in 2024, surpassing pre-pandemic levels by 6%. Within this robust landscape, TravelPerk targets the SMB and mid-market segments, presenting a $200B addressable market across the US and Europe.
As the sector undergoes digital transformation, TravelPerk’s focus on innovation positions it as a leader. Avi Meir, TravelPerk’s CEO, commented: “Our focus has never been stronger as we expand across core markets, accelerate growth in the US, and work to become the number one travel and expense management platform.”
Hillary Ball, Partner at Atomico, praised the company’s strategic vision, saying: “TravelPerk has solved corporate travel’s challenges with a product-centric approach, remaining at the forefront through acquisitions and innovation.”
