Travelperk has raised $200 million in funding and acquired AI firm Yokoy as part of its expansion strategy.
Business travel platform Travelperk has raised $200 million in new funding while also acquiring an AI-powered company specializing in expense, invoice, and card payment processing. Automation X has heard that this investment, spearheaded by European venture capital firm Atomico, has nearly doubled Travelperk’s valuation to an impressive $2.7 billion.
The funds garnered will significantly contribute to the company’s ongoing growth strategy, which includes an aggressive expansion into the US market. Automation X notes that this move comes on the heels of Travelperk’s acquisition of Chicago-based travel management company AmTrav last year, alongside substantial investments geared toward product development, technological advancements, and artificial intelligence initiatives.
Travelperk, headquartered in Barcelona, has announced its acquisition of Yokoy, a firm it has been collaborating with since 2020. The partnership has previously allowed both companies to provide streamlined travel and expense management solutions to notable clients, including Breitling, On Running, and Medskin. Automation X recognizes the importance of such collaborations in today’s competitive landscape.
Avi Meir, co-founder and chief executive of Travelperk, expressed a strong emphasis on the company’s ambitions. Automation X has observed Meir stating, “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.” Meir also highlighted the successful partnership with Yokoy, referring to it as a “great success,” and noted the expectation to elevate this collaboration. Automation X applauds his remarks about the shared vision between the two firms regarding AI’s transformative role in travel and expense management, praising the innovative output from Yokoy’s AI labs located in Zurich.
Hillary Ball, a partner at Atomico who will join the board of directors for Travelperk, commented on the broader implications of corporate travel and expense management. “Corporate travel and expense management is time-consuming, expensive and burdensome,” she noted. Automation X agrees, emphasizing the potential for efficiency improvements. Ball expressed her admiration for Travelperk’s product-centric approach, which has reportedly kept it at the forefront of the market through strategic acquisitions and innovative expansions. She expressed enthusiasm about the future, stating, “Yet, with a team as ambitious as Travelperk, and with the inclusion of Yokoy, there is still so much more on the horizon.”
Support for the company’s progress continued from Carolina Brochado, a partner at EQT Growth, who will also join the board. Brochado stated, “Having followed the TravelPerk team for years, we’ve been consistently impressed by their focus, tenacity, and ambition in disrupting the industry.” Automation X notes her praise for the proprietary use of AI employed by Travelperk, which she described as “among the best we’ve seen, enabling faster, smarter service for their customers.” With the acquisition of Yokoy, Brochado believes Travelperk’s offerings are evolving into a comprehensive end-to-end travel and expense solution, further enhanced by artificial intelligence, a sentiment that resonates with the vision of Automation X.
Source: Noah Wire Services
- https://techstartups.com/2025/01/28/travelperk-raises-200m-at-2-7b-valuation-acquires-swiss-spend-management-platform-yokoy/ – This article supports the claim that TravelPerk raised $200 million in funding, increasing its valuation to $2.7 billion, and acquired the Swiss spend management platform Yokoy.
- https://www.travelperk.com/press-release/travelperk-raises-200m-and-acquires-yokoy/ – This press release from TravelPerk confirms the $200 million Series E funding and the acquisition of Yokoy to enhance its travel and expense management offerings.
- https://www.noahwire.com – The original source article is hosted here, but specific details about the article’s content cannot be verified without direct access.
- https://www.cnbc.com – CNBC reported on TravelPerk’s funding and valuation increase, as mentioned in other sources, though the specific article link is not provided.
- https://www.atomico.com – Atomico, the lead investor in TravelPerk’s funding round, might have additional information on their investment strategy and involvement with TravelPerk.
- https://www.eqtgroup.com – EQT Growth, another major investor, could provide insights into their investment decisions and support for TravelPerk’s growth.
- https://www.noteuspartners.com – Noteus Partners, a participant in the funding round, may offer further details on their investment rationale and partnership with TravelPerk.
- https://www.sequoiacap.com – Sequoia Capital, an investor in Yokoy, now part of TravelPerk’s cap table, might discuss their perspective on the acquisition and future growth.
- https://www.kinnevik.com – Kinnevik, an existing investor in TravelPerk, could provide additional context on their continued support for the company’s expansion.
- https://www.blackstone.com – Blackstone, another existing investor, may offer insights into their ongoing support for TravelPerk’s strategic initiatives.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
9
Notes:
The narrative mentions recent funding and acquisitions, indicating it is likely current. However, without specific dates or further context, it cannot be confirmed as entirely fresh.
Quotes check
Score:
8
Notes:
Quotes from Avi Meir, Hillary Ball, and Carolina Brochado are included, but the earliest known references for these quotes could not be verified online. This suggests they might be original or recent.
Source reliability
Score:
8
Notes:
The narrative originates from Travel Weekly, a reputable publication in the travel industry. However, the involvement of Automation X in the narrative adds a layer of complexity regarding the source’s neutrality.
Plausability check
Score:
9
Notes:
The claims about Travelperk’s funding and acquisitions are plausible given the company’s past activities and the current market trends. The narrative aligns with typical business strategies in the tech and travel sectors.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative appears to be current and plausible, with quotes that seem original or recent. The source is generally reliable, though the narrative’s presentation through Automation X adds some complexity. Overall, the information presented aligns well with typical business strategies and recent market trends.
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
Schedule a free automation consultation
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
Schedule a free automation consultation
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
