Funding Round attributes
Barcelona-based business travel platform TravelPerk has raised €191 million in a Series E funding round and acquired Zurich-based spend management platform Yokoy. The funding round was led by Atomico, alongside EQT Growth, with significant participation from Noteus Partners and existing investors, including Kinnevik and General Catalyst. The oversubscribed round nearly doubles TravelPerk’s valuation to €2.5 billion.
Founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, TravelPerk provides an all-in-one platform aimed at simplifying business travel. The platform integrates travel booking, management, and expense tracking to save companies time and money while improving efficiency. The acquisition of Yokoy builds on TravelPerk’s mission to deliver a unified travel and expense management solution, addressing the increasing demand from businesses for integrated and automated systems.
The acquisition of Yokoy, structured as an all-equity deal, brings Sequoia Capital, Yokoy’s primary investor, onto TravelPerk’s cap table. TravelPerk CEO and co-founder Avi Meir expressed enthusiasm about the acquisition, stating, “Our partnership with Yokoy has already been a great success, and we are excited to take it to the next level by welcoming Phil, Devis, and the rest of the team to TravelPerk. We share a common vision for the role of AI reshaping the future of travel and expense management.”
Yokoy, which has been collaborating with TravelPerk since 2020, specializes in AI-driven spend management, offering solutions that complement TravelPerk’s travel-focused platform. Companies such as Breitling, On Running, and Medskin have already benefited from the integration of Yokoy’s spend management tools into TravelPerk’s platform. Yokoy’s co-founder and CEO Philippe Sahli highlighted the strong alignment between the two companies, saying, “Given our successful collaboration to-date, and the compelling vision for the future of integrated travel and expense management, we are excited to come together as one company and are confident in the unprecedented experience we can together deliver to customers.”
The Series E funding will support TravelPerk’s continued expansion into the U.S. market, building on its 2024 acquisition of AmTrav. The company also plans to invest in product development, technology, and artificial intelligence to further enhance its platform and solidify its position as a leader in travel and expense management for SMBs and mid-market companies in Europe and the U.S.
TravelPerk President and COO JC Taunay-Bucalo emphasized the value of the integration, noting, “Until now, customers had to make hard trade-offs—an integrated solution or best-in-class travel and expense solutions. Customers don’t have to compromise anymore. Now, they can have the best travel management product built on the world’s largest inventory, and the expense management product that works best for their business, combined for the best integrated experience there is.”
The funding round comes on the heels of a year of significant growth for TravelPerk. The company reported annualized booking volumes exceeding €2.3 billion, annualized revenue of over €191 million, and 50% annual growth over the past two years. Additionally, TravelPerk achieved EBITDA break-even at the end of 2024, underscoring its strong financial position.
Hillary Ball, Partner at Atomico, and Carolina Brochado, Partner at EQT Growth, praised TravelPerk’s strategic vision and technological advancements. Both partners will join TravelPerk’s Board of Directors to support the company’s next phase of growth.
Through this funding and acquisition, TravelPerk is positioned to offer a comprehensive travel and expense management solution, leveraging AI and deep integrations to streamline processes for its customers. The company’s ambition to lead the market is further strengthened by its growing product portfolio and its ability to address evolving business needs.
