TravelPerk
What they do
TravelPerk is a category-defining travel and expense management platform, reshaping the way companies manage travel for work. Powered by cutting-edge technology and with a commitment to flexibility, cost control and efficiency, TravelPerk helps businesses save time and reduce costs.
Trusted by global brands like Red Bull, Fujifilm and Nord Security, the company offers a seamless all-in-one platform to simplify travel booking, streamline expense management and boost productivity for businesses of all sizes.
For CFOs, TravelPerk offers an integrated solution that enforces travel policies, facilitates VAT reclaim and ensures compliance with regulatory standards such as emissions reporting and duty of care.
Notably, over 65 percent of its new clients were previously unmanaged - booking their trips on different services without coordination and control - highlighting the platform’s appeal amid a significant industry shift.
Why Kinnevik invested in TravelPerk
The corporate travel industry, currently sized at over USD 1.1tn, is ripe for transformation. CFOs demand transparency and control over what is often the second largest controllable expense after payroll, while corporate travellers seek modern, responsive service.
Kinnevik sees TravelPerk as uniquely positioned to capture this opportunity due to:
- The only European integrated travel and expense platform that delivers an end-to-end solution for its customers
- The enormous market potential and clear gaps in legacy travel solutions
- Its consumer-like, self-serve model that drives organic, employee-led adoption and hypergrowth
- Superior marketing efficiency in acquiring and retaining corporate customers within a “walled garden” environment
Co-founded by Avi Meir, TravelPerk is led by a strong executive team committed to redefining business travel. With the acquisition of Yokoy, the company has extended its focus towards a broader platform including expense management.
To continue to create value, TravelPerk focuses on:
- Further accelerating growth, with continued expansion in the US through strategic acquisitions and deeper integrations
- Continued sizeable investments into product, technology and AI to deliver the leading travel and expense management platform for small and midsize businesses in the US and Europe
Key information
- Leading business travel and expense management platform
- Over USD 200m in annualised revenue at end of 2024
- 50% annual revenue growth in 2023 and 2024
- Over USD 2.5bn in annualised booking volumes at end of 2024
- Reached EBITDA break-even in the last quarter of 2024
- Operating across more than 70 countries
News in the quarter
- Raised USD 200m in new financing and acquired leading spend management platform Yokoy. The round nearly doubled TravelPerk’s valuation
- Partnered with Airbnb to integrate over 8 million listings across 100,000 cities worldwide onto its platform
- Marked its 10-year anniversary by launching a new brand to recognise its extended category focus on travel and expense management through the Yokoy acquisition
