TravelPerk raises $200M Series E round at $2.7B valuation

Barcelona-based travel platform TravelPerk has announced its Series E fundraise of $200M. This almost doubles the company's valuation to $2.7B. 

TravelPerk the leading travel and expense management platform for SMB and mid-market companies in Europe. The company also announced its acquisition of Yokoy, a provider of AI-powered expense, invoice, and card payment processing software.

The investment is led by European venture capital firm Atomico, alongside EQT Growth, with significant participation from Noteus Partners and existing investors, including Kinnevik and General Catalyst.  

The funding will be used to drive growth, with continued expansion into the US market following the acquisition of AmTrav in 2024. Significant investments will also be made into product, technology and AI.

Through its acquisition of Yokoy, TravelPerk will be able to offer more localised solutions to US customers. “Until now, customers had to make hard trade-offs— an integrated solution or best-in-class travel and expense solutions. A platform delivering a great end-user experience or one focused on the experience for Finance,” commented President and Chief Operating Officer, JC Taunay-Bucalo. 

He added: “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.”

TravelPerk and Yokoy have collaborated since 2020, partnering to jointly offer travel and expense management to customers such as Breitling, On Running, and Medskin.

Philippe Sahli, Co-founder and CEO of Yokoy commented: “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.”