The investment nearly doubles the company’s valuation to USD 2.7 billion. The funding will support TravelPerk’s expansion, particularly in the US market following its acquisition of AmTrav in 2024. Additionally, the company plans to invest in product development, technology, and artificial intelligence to support its travel and expense management platform for small and mid-sized businesses in the US and Europe.
Alongside the funding announcement, TravelPerk confirmed its acquisition of Yokoy, a European company specialising in AI-driven expense, invoice, and card payment processing. The move aims to integrate travel and expense management into a single automated platform, addressing increasing economic and regulatory challenges faced by businesses.
By acquiring Yokoy and integrating with strategic expense management partners, TravelPerk aims to offer localised solutions in Europe and the US, while maintaining flexibility for customers.
TravelPerk officials stated that businesses previously had to choose between an integrated travel and expense solution or separate best-in-class products. They added that the acquisition allows customers to access a travel management system with extensive inventory alongside an expense management solution tailored to their needs.
The two companies have worked together since 2020, providing travel and expense solutions to clients such as Breitling, On Running, and Medskin. Yokoy officials noted that their collaboration has been successful, and the merger is expected to improve the customer experience further.
TravelPerk representatives stated that the company remains focused on expanding in key markets and strengthening its position in the travel and expense management sector. They emphasised the role of AI in shaping the industry’s future and highlighted Yokoy’s technological capabilities.
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