TravelPerk has confirmed a new $R200 million Series E fund raise to further accelerate growth and investments into product, technology and AI.
The oversubscribed round, led by European venture capital firm Atomico, alongside with partners, nearly doubles the company’s valuation to $2.7 billion.
TravelPerk also announced its acquisition of Yokoy, a specialist in AI-powered expense, invoice and card payment processing.
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.
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.”
“Our partnership with Yokoy has already been a great success, and we are excited to take it to the next level by welcoming Phil, Devis, and the rest of the team to TravelPerk. We share a common vision for the role of AI reshaping the future of travel and expense management, and the innovation coming out of Yokoy’s AI labs in Zurich is seriously impressive.”
