Corporate travel platform TravelPerk secured $200 million in funding, valuing the company at $2.7 billion. The fresh capital, secured from investors including Atomico and EQT, doubles TravelPerk's market value from January 2024. TravelPerk also acquired Yokoy, a Swiss spend management platform, further expanding its reach into financial services.
Corporate travel platform TravelPerk raised $200 million from investors including Atomico and EQT in a funding round valuing the firm at $2.7 billion.
TravelPerk, a corporate travel platform, raised $200 million from investors including Atomico and EQT in a funding round valuing the firm at $2.7 billion, the company told CNBC.The fresh financing doubles TravelPerk's market value from January 2024, when it raised $104 million on a $1.4 billion valuation. Noteus Partners also participated in this latest investment round.
TravelPerk saw revenues decline rapidly in 2020 and 2021 as most business travel came to a standstill. Revenue has since grown to around five times the size it was before Covid hit, according to Taunay-Bucalo. "This is a market that resurged following the pandemic," Ball told CNBC."In the past year, the global value of corporate travel was $1.5 trillion — that's up by 6% relative to pre-pandemic and 2019. It's really clear that this is a market that's here to stay and one that's growing."raised a further $135 million in debt financing and acquired AmTrav
"We think that, out of that $200 billion, about half of that is unmanaged. So, it's you and me at a company going to Booking.com for the hotel, going to Expedia for the flight. This is a very fragmented, disjointed experience."
TRAVELPERK FUNDING ACQUISITION CORPORATE TRAVEL YOKOY FINANCIAL SERVICES AI
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