TravelPerk Raises $200 Million and Acquires Yokoy
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TravelPerk, a top business travel platform, said it raised $200 million in new funding. The company also shared that it has acquired Yokoy, a leader in AI-powered expense, invoice, and card payment management in Europe. This deal is part of TravelPerk’s plan to grow even faster.
The investment was led by the European venture firm Atomico, with other firms like EQT Growth, Noteus Partners, and Kinnevik also taking part. TravelPerk’s value has nearly doubled with this round of funding, now reaching $2.7 billion.
According to the company, the money will help TravelPerk expand its reach, especially in the U.S., and improve its products and technology. TravelPerk is also focused on offering better AI tools to manage travel and expenses.
TravelPerk And Yokoy Combine To Provide Better Tools
TravelPerk’s new deal with Yokoy will help the company offer better tools to customers in Europe and the U.S. By bringing together travel and expense management, TravelPerk wants to give businesses a smooth and easy experience.
The company’s President JC Taunay-Bucalo said customers will no longer have to pick between a good travel tool and a good expense tool. With the new platform, businesses will get both tools together in one easy place.
Reports show that TravelPerk and Yokoy have worked together for about 5 years. They have helped top companies like Breitling, On Running, and Medskin. This teamwork made the deal feel like the right next step for both companies.
Philippe Sahli, Co-founder and leader of Yokoy, was happy about joining TravelPerk. He said the two companies can now give even better services and offer customers a great experience.
TravelPerk’s Growth Continues With New Investment
TravelPerk has grown a lot. In the last two years, the company’s bookings reached $2.5 billion. It now earns more than $200 million each year. TravelPerk keeps growing as it works to become the best platform for travel and expense management.
Avi Meir, the leader of TravelPerk, said the company’s focus is stronger than ever. He added that it will keep expanding in the United States and other important places. Meir also said he is happy about working with Yokoy, especially with new ideas in AI.
Hillary Ball, a partner at Atomico, said TravelPerk’s focus on its product is one of the best. She added that with Yokoy joining, the company is in a strong place to lead corporate travel and expense management.
Carolina Brochado from EQT Growth also praised TravelPerk’s use of AI. She said it is one of the best in the industry. She added that bringing in Yokoy will help TravelPerk’s platform become even stronger and more useful for businesses.
