SoftBank-backed TravelPerk doubles valuation to $2.7 billion, plans fintech push
Corporate travel platform TravelPerk raised $200 million from investors including Atomico and EQT in a funding round valuing the startup at $2.7 billion.
TravelPerk, a corporate travel platform, raised $200 million from investors including Atomico and EQT in a funding round valuing the firm at $2.7 billion, the company told CNBC.
The fresh financing doubles TravelPerk's market value from January 2024, when it raised $104 million on a $1.4 billion valuation. Noteus Partners also participated in this latest investment round.
In addition to the funding round, the Barcelona-based startup revealed it acquired Yokoy, a Swiss spend management platform, a deal that will see it expand its reach into financial services and become a more unified travel and expenses platform.
As a result of the acquisition, Yokoy investor Sequoia Capital will join TravelPerk's cap table alongside existing investors General Catalyst, Kinnevik, Softbank's Vision Fund and Blackstone.
TravelPerk said the fresh cash would be used to accelerate growth, fuel expansion in the U.S. market and investment in product, tech and artificial intelligence.