Barcelona-based business travel management platform Travelperk has raised $ 200 million in a large estimate of $ 2.7 billion-double the estimate of $ 1.4 billion in its previous fund last year.
Alongside the rise, Travelperk also announced that he has won the start of Switzerland Yokoy to bring local spending management to the quarrel.
With the travel and tourism industry, only for pre-fandemic levels, this has proven aid to the beginnings that offer everything, from tour packages and travel planning tools to luggage and rental intelligents.
This trend is somewhat reflected in the corporate field, also with the World Travel and Tourism Council (WTTC), noting that the business trip was on the course to hit a record of $ 1.5 trillion in $ 2024-6.2% more than the peak money -Pandemic in 2019 in 2019. This requirement is filtering into the starting space of the corporate trip, and investors are taking into account. In September, news showed that the Denver -based engine, which focuses on hotel bookings, flights, car rentals and dating spaces, had raised $ 140 million in a $ 2.1 billion rating.
Travelperk, for its part, envisions a comprehensive platform for businesses to book, manage and report their entire domestic and international journey, with integrations extending the platform to functions such as HR and expenses.
While the pandemia has had an indelible impact on working culture in terms of distance and hybrid work, there is little link between this and the type of corporate travel dealing with Travelperk. Travelperk president and leading operating officer Jean-Christophe Taunay-Bucalo showed his latest value of business travel report, which revealed that companies are still planning to invest in travel to increase sales and new business efforts , such as traveling to conferences.
“Hybrid and remote work models have had a minimal impact on business travel demands that are traveling for work will continue to do so because it is part of their work,” Taunay-Bucoal told Techcrunch over email. “Whether it is a sale meeting or to install a wind turbine, there are many situations when workers have to be on the ground and personally.”
However, a more distributed workforce means companies are investing more in countries that require travel. And Travelperk sees this decentralization as a perfect opportunity to get his technology in the hands of more people.
“Decentralized travel systems empower employees to manage their bookings, and while in the past this implied a lack of control over expenses and compliance, the tools built on our platform give control and visibility again to the business without loading without charging travel managers with logistics with complex logistics, ”said Taunay-Bucalo.
“Unified Travel and Expenditure”
Founded in 2015, Travelperk had previously raised about $ 660 million in capital and debt capital, and with another $ 200 million in the bank, the company said it is now doubled in its global growth plans. This includes the US market, where it won the Chicikago Amtrav -based rival last year with $ 135 million in debt financing.
But these growth efforts also include expansion in tangential vertical. Among Travelperk’s existing integrations is Yokoy, a spending management platform activated by him, supported by Sequoia Capital. And as part of his announcement of series E funding on Monday, Travelperk said he is now winning Yokoy fully for an undiscovered sum – though Techcrunch is told it was a “nine -figure” transaction, which makes sense given that Yokoy had raised about $ 107 million since her start in 2019.
This will allow Travelperk to offer a “deeper and more unified travel and expense offer”, with firmly mature expenses on its essential platform rather than relying exclusively on third parties integrations.
“Our focus has never been stronger as we expand in essential markets, accelerate growth in the US, and now we work to become a number one travel management platform,” said Travelperk’s co -founder and CEO Avi Meir (photo above) statement.
This mirror moves elsewhere in the field of technology. For example, Tripacions expanded to spending management in 2020 in response to a pandemia that places most of the company’s travel plans in the long -term interruption. RAMP, meanwhile, moved in the opposite direction in 2022, adding travel management to its existing expenditure product.
Expenditure expansion has a great meaning, as future data against whatever faces the travel sector faces today and in the future. Indeed, expenses are something that all businesses have to deal with, regardless of their corporate journey position.
As a result of the transaction, Yokoy’s team, including CEO Philippe Sahli and CTO Devis Lussi, will join Travelperk, where they will decide to integrate their respective products.
“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 travel,” Meir said. “We share a common vision of the role of reshaping that of the future of travel management and expenses, and the innovation that comes from Yokoy’s laboratories in Zurich is seriously impressive.”
The TRAREPERK series round was led by the European Firm of Entrepreneurship Capital, with participation by EQT Growth, Noteus Partners, Kinnevik, General Catalyst, among other existing investors.
