Total amount raised
$28 Millions
Latest funding date
April, 2018
Location
TravelPerk has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform offers comprehensive solutions for corporate travel management, simplifying the booking and expense tracking processes.
Keep reading to explore the intricacies of TravelPerk's fundraising journey and the investors backing this innovative platform.
What Is TravelPerk?
TravelPerk, founded on January 1, 2015, is a business travel management platform headquartered in Barcelona, Catalonia, Spain. The company was established by Avi Meir, Javier Suarez, and Ron Levin.
TravelPerk simplifies corporate travel by integrating booking, reporting, and support into one tool. The platform allows users to book flights, hotels, and car rentals while ensuring compliance with company policies.
With a workforce of between 1001-5000 employees, TravelPerk offers services such as flexible cancellations, travel alerts, carbon emissions offsetting, VAT recovery, and 24/7 customer support.
How Much Funding Has TravelPerk Raised?
- Series B
- Amount Raised: $21M
- Date: April 2018
- Lead Investors: Felix Capital, Target Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Series C
- Amount Raised: €38M
- Date: October 2018
- Lead Investors: Kinnevik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and enhance technology.
- Series C
- Amount Raised: €53M
- Date: July 2019
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series D
- Amount Raised: $160M
- Date: April 2021
- Lead Investors: Greyhound Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and scale globally.
- Series D
- Amount Raised: $115M
- Date: January 2022
- Lead Investors: General Catalyst, Kinnevik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and innovation.
- Series D
- Amount Raised: €17M
- Date: July 2023
- Lead Investors: Kinnevik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and enhance services.
- Series D
- Amount Raised: €95M
- Date: January 2024
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1.4B
- Motivation Behind the Round: To invest in AI technology and expand product offerings.
- Debt Financing
- Amount Raised: €125M
- Date: June 2024
- Lead Investors: Blackstone Group, Blue Owl
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and growth initiatives.
- Series E
- Amount Raised: $200M
- Date: January 2025
- Lead Investors: Atomico, EQT
- Valuation at Round: $2.7B
- Motivation Behind the Round: To accelerate growth, particularly in the U.S. market, and invest in product development and AI.
Total Amount Raised: $1.1B
Current Valuation: $2.7B
Key Investors
- Atomico
- Details: Atomico is a venture capital firm based in London, founded by Skype co-founder Niklas Zennström. The firm focuses on helping disruptive technology companies scale globally.
- Investment Focus Areas: Technology startups, AI, growth-stage companies.
- Notable Investments: Klarna, Lilium, Pipedrive.
- EQT Growth
- Details: EQT Growth is part of EQT, a global investment organization with a strong focus on growth-stage companies. They aim to support businesses in achieving their full potential.
- Investment Focus Areas: Technology, healthcare, industrial technology.
- Notable Investments: Epidemic Sound, Wolt, Vinted.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. They are known for their hands-on approach in helping companies scale.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Airbnb, Stripe, Snap.
- Kinnevik
- Details: Kinnevik is an investment company that focuses on building digital consumer businesses. They have a long history of investing in transformative companies.
- Investment Focus Areas: Consumer services, financial services, healthcare, TMT (Technology, Media, and Telecommunications).
- Notable Investments: Zalando, Tele2, Babylon Health.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused investment funds in the world. They invest in companies that are poised to lead the next wave of innovation.
- Investment Focus Areas: Technology, AI, disruptive business models.
- Notable Investments: Uber, WeWork, Arm Holdings.
What's Next for TravelPerk?
TravelPerk's future is brimming with opportunities, particularly in the U.S. market, which is poised to be a significant growth driver. The integration of Yokoy's spend management capabilities will enhance TravelPerk's platform, making it a comprehensive solution for corporate travel and expense management. With the global corporate travel market valued at $1.5 trillion, the potential for growth is substantial.
Future fundraising seems promising, given the strong investor confidence demonstrated in the recent $200 million Series E round. This financial backing will likely support further technological advancements and market expansion. However, challenges such as integrating new acquisitions and navigating economic pressures remain. Successfully addressing these will be crucial for maintaining momentum and achieving long-term success.
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