TravelPerk raises $200M in Series E, co-led by EQT

TravelPerk, a Barcelona-based SaaS business travel platform, has secured $200 million in a Series E funding round co-led by EQT Growth and Atomico. This funding round has elevated the company's valuation to $2.7 billion. The round also saw participation from new investors Noteus Partners and Sequoia Capital, as well as existing investors like General Catalyst, Kinnevik, Softbank Vision Fund, and Blackstone. The investment is aimed at enhancing TravelPerk's end-to-end business travel management services, particularly through the recent acquisition of Yokoy, a spend management platform. This acquisition supports TravelPerk's mission to integrate travel and expense management solutions, offering companies an advanced and streamlined approach to managing business travel and expenses. TravelPerk's focus on utilizing AI to provide personalized service for companies has positioned it to extend its reach, particularly in the European and U.S. markets. This expansion is supported by its impressive track record of 50% growth over the past two years and achieving EBITDA break-even in 2024. Partner at EQT Growth, Carolina Brochado, expressed confidence in TravelPerk’s innovative approach and the potential of their new offerings post-acquisition. TravelPerk CEO Avi Meir emphasized the strategic alignment with Yokoy and the shared vision for AI-driven management solutions.