EQT Co-leads TravelPerk's USD 200 Million Series E

In a strategic move that underscores the growing potential of the corporate travel market, EQT Growth has co-led a USD 200 million Series E funding round in TravelPerk, valuing the Barcelona-based SaaS business travel platform at USD 2.7 billion. The investment, also led by Atomico, with participation from Noteus Partners, Sequoia Capital, and existing investors, will fuel TravelPerk's continued expansion into the US market and significant investments into product, technology, and AI.

TravelPerk's impressive growth trajectory, with 50 percent annual growth over the last two years and EBITDA break-even at the end of 2024, has caught the eye of EQT and other prominent investors. The company's proprietary use of AI, enabling faster, smarter service for customers, and its focus on continuous innovation have further solidified its investment appeal.

In addition to the funding round, TravelPerk announced the acquisition of Yokoy, a leading spend management platform. This strategic move will create an integrated travel and expense management platform, allowing TravelPerk to provide small and medium-sized businesses in Europe and the US with highly localized solutions that suit individual needs while preserving freedom of choice and flexibility.



Carolina Brochado, Partner at EQT Growth, who will join the TravelPerk Board, commented on the investment: "TravelPerk is a clear digital-native leader in the multi-hundred-billion corporate travel market. Most small and mid-market businesses remain unmanaged and underserved in this space. Having followed the TravelPerk team for years, we've been consistently impressed by their focus, tenacity, and ambition in disrupting the industry. Their proprietary use of AI is among the best we've seen, enabling faster, smarter service for their customers. With the Yokoy acquisition, their product evolves into a true end-to-end T&E solution, further powered by AI."

Avi Meir, TravelPerk CEO and Co-Founder, added: "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."

EQT's investment in TravelPerk aligns with its broader investment philosophy, particularly its focus on stability, predictability, and consistent growth. TravelPerk's strong market position, rapid growth, and AI integration make it an attractive investment opportunity for EQT, which aims to support fast-growing technology companies as they continue to scale. The acquisition of Yokoy further enhances TravelPerk's investment appeal by expanding its service offerings and facilitating market expansion and localization.