TravelPerk Gains USD 200 Million in Series E Funding Co-Led by EQT and Atomico
Deal News | Jan 28, 2025 | PR Newswire Cision EQT
TravelPerk, a leading all-in-one SaaS business travel platform, has secured a substantial USD 200 million in its Series E funding round, co-led by EQT Growth and Atomico. This latest round of funding, including contributions from new investors like Noteus Partners and Sequoia Capital, as well as existing ones like General Catalyst, Softbank Vision Fund, and Blackstone, values the Barcelona-based company at USD 2.7 billion. In a strategic move to enhance its service portfolio, TravelPerk has announced the acquisition of Yokoy, a leading spend management platform, aiming to deliver an integrated travel and expense management solution. As TravelPerk expands its operations into the US, this funding is directed towards enhancing its technology and AI capabilities, a strategic initiative supported by EQT's Carolina Brochado, who will join TravelPerk's board. The company has been showing consistent 50% annual growth, boasting EBITDA break-even by the end of 2024. This investment and the acquisition aim to tackle the growing demand for comprehensive and automated business travel management services in Europe and the US, enabling SMBs to manage travel with more freedom and flexibility.
Sectors
- Travel and Expense Management
- Venture Capital and Private Equity
- Technology
Geography
- Spain – TravelPerk is headquartered in Barcelona, emphasizing its central role in this article.
- United States – TravelPerk aims to expand its market reach in the US, a significant focus of its growth strategy as highlighted in the article.
- Switzerland – Yokoy, which TravelPerk acquired, is significant in this article and is based in Zurich, Switzerland.
- Europe – TravelPerk provides localized solutions across Europe, highlighting its operational significance in this geography.
Industry
- Travel and Expense Management – The article focuses on TravelPerk, a SaaS platform specializing in business travel and expense management services, enhanced by its recent acquisition of Yokoy.
- Venture Capital and Private Equity – The article discusses a significant funding round co-led by EQT Growth, a private equity firm, and other investors like Atomico and Sequoia Capital.
- Technology – The focus on SaaS technology and AI-driven solutions reflects the article's emphasis on technological advancements within the business travel sector.
Financials
- USD 200 million – The amount raised by TravelPerk in its Series E funding round.
- USD 2.7 billion – The valuation of TravelPerk following the Series E funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TravelPerk | Target Company | Company | A SaaS platform offering an all-in-one business travel and expense management solution. |
| EQT Growth | Investor | Company | A private equity firm that co-led TravelPerk's USD 200 million Series E funding round. |
| Atomico | Investor | Company | A venture capital firm that co-led the Series E funding round for TravelPerk. |
| Yokoy | Acquisition | Company | A leading spend management platform acquired by TravelPerk. |
| Noteus Partners | Investor | Company | A new investor joining TravelPerk's Series E funding round. |
| Sequoia Capital | Investor | Company | One of the new investors participating in the Series E round for TravelPerk. |
| General Catalyst | Investor | Company | An existing investor participating in TravelPerk's Series E funding. |
| Kinnevik | Investor | Company | An existing investor involved in the Series E funding for TravelPerk. |
| Softbank Vision Fund | Investor | Company | An existing investor contributing to TravelPerk's Series E funding. |
| Blackstone | Investor | Company | An existing investor participating in TravelPerk’s Series E round. |