Signaling investors’ confidence in the recovery of business travel (yes PLEASE!), Barcelona-based TravelPerk has raised $160 million in equity and debt funding in a Series D round.
Led by Greyhound Capital, the round also saw participation from existing investors, although which investors were not specifically named. With this raise, TravelPerk tops out at a healthy total of $294 million raised.
The raise is expected to fuel TravelPerk’s US and European market expansion plans, primarily through further product innovations (I’m looking at you COVID) and acquisitions. After weathering the storm with zero layoffs, TravelPerk is also embarking on a recruitment spree.
“We believe that this is a huge long-term opportunity, and as customers ourselves, we see first-hand the tremendous value that TravelPerk provides across organizations, from finance to admin and the travellers themselves,” comments Greyhound Capital’s Pogos Saiadian. “The fact the company is beating growth expectations already for this year further supports our belief that TravelPerk is a true market leader.”
Founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, the TravelPerk platform, “combines the best of business and leisure travel” and offers customers booking, managing, and reporting of business trips, all with 24/7 support. The company reports that they hold the world’s largest bookable travel inventory, allowing consumers to instantly cross-compare, book, and invoice trains, cars, flights, hotels, and apartments from providers across Kayak, Skyscanner, Expedia, Booking.com, and Airbnb.
“There will always be a need for business travel. But the events of the last year have fundamentally changed businesses’ expectations and preferences”, comments CEO Avi Meir. “Over the last 12 months, we’ve been constantly innovating to address the changing needs for travelers navigating the complex travel environment during COVID, and kept growing as a company during one of the worst crises the industry has ever seen - doubling our travel budget under management in this period.”Barcelona-based business travel platform TravelPerk raises $160 million in Series D round