April 18, 2024

TravelPerk makes ‘milestone’ acquisition

TravePerk has acquired Santa Monica-based business travel platform NexTravel as part of its expansion plans in the U.S. market.

The deal includes NexTravel’s customer base, technology, employees, inventory, and U.S. market expertise, doubling the size of TravelPerk’s team on the ground and adding “significantly” to its client base.

NexTravel, founded in 2013 by Wen-Wen Lam and Alexey Pakhomov, has more than 700 business clients, including Yelp, Stripe and Harry’s, with over 300,000 trips processed on the platform to date.

Avi Meir, CEO and Co-Founder of TravelPerk, described the move as “another important milestone in TravelPerk’s global growth”.

“Our primary goal this year has been to meet our customers’ changing needs in business travel as they navigate the unique challenges created by Covid-19,” he said.

“Despite the temporary slowdown in travel worldwide, we have been able to invest significantly in our products and technology and move quickly to strengthen our offering, giving us a great platform for continued growth in our priority markets, particularly the U.S.

“The U.S. has been an important market for TravelPerk for some time, but we’re now more committed than ever to growing our presence here.

This is TravelPerk’s second and largest acquisition, following the integration of risk management startup Albatross in July 2020.

Announcing the deal today, TravelPerk said its strategy is to “keep getting stronger by acquiring other companies and integrating their expertise and talented teams to build long-term growth”.