TravelPerk raises $200m & acquires spend management platform Yokoy

By Gloria Methri

TravelPerk, the Spain-based business travel platform, has announced a new Series E fundraise of $200 million. The investment was led by European venture capital firm Atomico, alongside EQT Growth, with participation from Noteus Partners and existing investors, including Kinnevik and General Catalyst. The oversubscribed round nearly doubles TravelPerk’s valuation to $2.7 billion.

The funding will be used to further accelerate growth – with continued expansion into the US market (following the acquisition of AmTrav in 2024) alongside investments into product, technology and AI to deliver travel and expense management platforms for SMB and mid-market companies in the U.S. and Europe.

The company also announced its acquisition of Yokoy, a specialist in AI-powered expense, invoice, and card payment processing. Through its acquisition and deep integrations via an open ecosystem of strategic expense management partners, TravelPerk aims to provide customers with highly localised solutions to suit their individual needs, preserving customers’ freedom of choice and flexibility.

“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,” said TravelPerk President and Chief Operating Officer JC Taunay-Bucalo, adding, “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, successfully 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, said, “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.”

Avi Meir, TravelPerk CEO and Co-Founder, said, “Our focus has never been stronger as we expand across core markets, accelerate growth in the US, and now work to become the number one travel and expense management platform.”