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TravelPerk Raises $200M and Acquires Yokoy to Create the Leading Integrated Travel and Expense Management Platform

Jan 28, 2025 - financialpost.com
TravelPerk, a leading business travel platform, has raised $200 million in a Series E funding round, nearly doubling its valuation to $2.7 billion. The investment, led by Atomico and EQT Growth, will support TravelPerk's expansion into the US and enhance its product and AI capabilities. The company has also acquired Yokoy, a European leader in AI-powered expense management, to offer a more integrated travel and expense solution. This acquisition aims to simplify processes and control costs for businesses by combining travel and expense management into one platform.

The funding and acquisition follow a period of significant growth for TravelPerk, which achieved over $2.5 billion in annualized booking volumes and over $200 million in annualized revenue. The company has been profitable, reaching EBITDA break-even by the end of 2024. The acquisition of Yokoy, an all-equity deal, brings Sequoia Capital onto TravelPerk's cap table. TravelPerk aims to become the top travel and expense management platform, leveraging AI to enhance its offerings.

Key takeaways:

  • TravelPerk has raised $200 million in a Series E funding round, nearly doubling its valuation to $2.7 billion.
  • The company has acquired Yokoy, a leading AI-powered expense management platform, to enhance its travel and expense management offerings.
  • The funding will support TravelPerk's expansion into the US market and further investments in product and AI development.
  • TravelPerk aims to provide a fully integrated travel and expense management solution, combining best-in-class travel management with advanced expense management capabilities.
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