TravelPerk secures $200M, acquires expense control tech Yokoy

Company commute control platform TravelPerk has secured $200 million in Sequence E investment.

The Spain-based corporate has additionally introduced the purchase of Yokoy, an expense control era corporate, for an undisclosed quantity.

Atomico and EQT Expansion led the funding, which values the corporate at $2.7 billion. Noteus Companions and current traders together with Kinnevik, Basic Catalyst, Softbank Imaginative and prescient Fund and Blackstone additionally participated within the spherical.

The spherical comes simply over a yr after TravelPerk introduced its Sequence D-1 extension spherical of $104 million,
led by way of Softbank Imaginative and prescient Fund 2. It mentioned on the time that it deliberate to place the investment in opposition to further trade services and products. It additionally secured a credit score facility of $135 million final yr because it introduced the acquisition of company commute control corporate AmTrav.

This corporate mentioned this newest investment will pass in opposition to accelerating enlargement together with in america, which turned into TravelPerk’s easiest income producing area following the AmTrav acquisition. The corporate additionally plans to put money into its product, era and synthetic
intelligence.

Switzerland-based Yokoy, based in 2019, is helping firms automate finance processes equivalent to bills, bill and card bills the use of synthetic intelligence. The corporate introduced $80 million in Sequence B investment from traders together with Sequoia Capital and Balderton Capital in 2022.

Companies are increasingly more in quest of an built-in commute and expense way to pressure potency and regulate prices, TravelPerk mentioned in a remark.

Different commute firms were eyeing the alternatives bobbing up from providing built-in commute and expense era. Indian on-line commute company MakeMyTrip introduced
the acquisition of expense control platform Happay in past due
2024 and mentioned it used to be a part of a method to provide a complete way to its company consumers.

And, spend control platforms have sought to combine commute and expense control lately with Expensify saying the release of a commute reserving platform final yr, thru a partnership with Spotnana.

Ramp, any other spend control platform, additionally introduced a partnership with Priceline in 2024 to lend a hand simplify bills whilst reserving commute. In a similar fashion, Middle and Brex added commute control era thru Spotnana to their respective spend control services and products in 2023.

TravelPerk has partnered with expense control consultants, together with Yokoy, prior to now and can proceed to provide its consumers localized answers or an built-in means during the acquisition.

“Given our a success collaboration to-date, and the compelling imaginative and prescient for the way forward for built-in commute and expense control, we’re excited to return in combination as one corporate and are assured within the unheard of revel in we will be able to in combination ship
to consumers,” mentioned Philippe Sahli, co-founder and CEO of Yokoy.

Our focal point hasn’t ever been more potent as we increase throughout core markets, boost up enlargement within the U.S. and now paintings to transform the #1 commute and expense control platform.

Avi Meir – TravelPerk

TravelPerk additionally mentioned it accomplished annualized gross reserving volumes of greater than $2.5 billion previously yr, income of greater than $200 million and EBITDA break-even on the finish of 2024.

“Our focal point hasn’t ever been more potent as we increase throughout core markets, boost up enlargement within the U.S. and now paintings to transform the #1 commute and expense control platform,” mentioned Avi Meir, co-founder and CEO of TravelPerk.

“Our partnership with Yokoy
has already been a super luck, and we’re excited to take it to the following stage by way of welcoming Phil, Devis and the remainder of the staff to TravelPerk. We percentage a not unusual imaginative and prescient for the function of AI reshaping the way forward for commute and expense control, and
the innovation popping out of Yokoy’s AI labs in Zurich is severely spectacular.”

“Company commute and expense control is time-consuming, dear and burdensome,” mentioned Hillary Ball, spouse at Atomico, who joins TravelPerk’s board of administrators.

“We’ve lengthy admired how TravelPerk has solved this downside with a product-centric
means, and remained at the vanguard of the marketplace thru strategic acquisitions, global enlargement, and cutting edge product expansions. But, with a staff as bold as TravelPerk, and with the inclusion of Yokoy, there’s nonetheless so a lot more
at the horizon.”

Additionally becoming a member of Travelperk’s board is Carolina Brochado, spouse at investor EQT Expansion.

“Having adopted the TravelPerk staff for years, we’ve been persistently inspired by way of their focal point, tenacity and ambition in disrupting the business,” Brochado mentioned.

“Their proprietary use of AI
is one of the perfect we’ve observed, enabling sooner, smarter carrier for his or her consumers. With the Yokoy acquisition, their product evolves into a real end-to-end T&E answer, additional powered by way of AI.”

That is the 6th acquisition for TravelPerk together with NexTravel, sustainability consultancy Susterra and Click on Commute in 2021. The corporate obtained COVID information specialist Albatross in 2020.

All over Phocuswright Europe final yr, Meir sat down with PhocusWire’s Linda Fox to talk about company commute consolidation, the function of AI and
evolution in expense control. Watch the total dialogue underneath.

Company commute control platform TravelPerk has secured $200 million in Sequence E investment.

The Spain-based corporate has additionally introduced the purchase of Yokoy, an expense control era corporate, for an undisclosed quantity.

Atomico and EQT Expansion led the funding, which values the corporate at $2.7 billion. Noteus Companions and current traders together with Kinnevik, Basic Catalyst, Softbank Imaginative and prescient Fund and Blackstone additionally participated within the spherical.

The spherical comes simply over a yr after TravelPerk introduced its Sequence D-1 extension spherical of $104 million,
led by way of Softbank Imaginative and prescient Fund 2. It mentioned on the time that it deliberate to place the investment in opposition to further trade services and products. It additionally secured a credit score facility of $135 million final yr because it introduced the acquisition of company commute control corporate AmTrav.

This corporate mentioned this newest investment will pass in opposition to accelerating enlargement together with in america, which turned into TravelPerk’s easiest income producing area following the AmTrav acquisition. The corporate additionally plans to put money into its product, era and synthetic
intelligence.

Switzerland-based Yokoy, based in 2019, is helping firms automate finance processes equivalent to bills, bill and card bills the use of synthetic intelligence. The corporate introduced $80 million in Sequence B investment from traders together with Sequoia Capital and Balderton Capital in 2022.

Companies are increasingly more in quest of an built-in commute and expense way to pressure potency and regulate prices, TravelPerk mentioned in a remark.

Different commute firms were eyeing the alternatives bobbing up from providing built-in commute and expense era. Indian on-line commute company MakeMyTrip introduced
the acquisition of expense control platform Happay in past due
2024 and mentioned it used to be a part of a method to provide a complete way to its company consumers.

And, spend control platforms have sought to combine commute and expense control lately with Expensify saying the release of a commute reserving platform final yr, thru a partnership with Spotnana.

Ramp, any other spend control platform, additionally introduced a partnership with Priceline in 2024 to lend a hand simplify bills whilst reserving commute. In a similar fashion, Middle and Brex added commute control era thru Spotnana to their respective spend control services and products in 2023.

TravelPerk has partnered with expense control consultants, together with Yokoy, prior to now and can proceed to provide its consumers localized answers or an built-in means during the acquisition.

“Given our a success collaboration to-date, and the compelling imaginative and prescient for the way forward for built-in commute and expense control, we’re excited to return in combination as one corporate and are assured within the unheard of revel in we will be able to in combination ship
to consumers,” mentioned Philippe Sahli, co-founder and CEO of Yokoy.

Our focal point hasn’t ever been more potent as we increase throughout core markets, boost up enlargement within the U.S. and now paintings to transform the #1 commute and expense control platform.

Avi Meir – TravelPerk

TravelPerk additionally mentioned it accomplished annualized gross reserving volumes of greater than $2.5 billion previously yr, income of greater than $200 million and EBITDA break-even on the finish of 2024.

“Our focal point hasn’t ever been more potent as we increase throughout core markets, boost up enlargement within the U.S. and now paintings to transform the #1 commute and expense control platform,” mentioned Avi Meir, co-founder and CEO of TravelPerk.

“Our partnership with Yokoy
has already been a super luck, and we’re excited to take it to the following stage by way of welcoming Phil, Devis and the remainder of the staff to TravelPerk. We percentage a not unusual imaginative and prescient for the function of AI reshaping the way forward for commute and expense control, and
the innovation popping out of Yokoy’s AI labs in Zurich is severely spectacular.”

“Company commute and expense control is time-consuming, dear and burdensome,” mentioned Hillary Ball, spouse at Atomico, who joins TravelPerk’s board of administrators.

“We’ve lengthy admired how TravelPerk has solved this downside with a product-centric
means, and remained at the vanguard of the marketplace thru strategic acquisitions, global enlargement, and cutting edge product expansions. But, with a staff as bold as TravelPerk, and with the inclusion of Yokoy, there’s nonetheless so a lot more
at the horizon.”

Additionally becoming a member of Travelperk’s board is Carolina Brochado, spouse at investor EQT Expansion.

“Having adopted the TravelPerk staff for years, we’ve been persistently inspired by way of their focal point, tenacity and ambition in disrupting the business,” Brochado mentioned.

“Their proprietary use of AI
is one of the perfect we’ve observed, enabling sooner, smarter carrier for his or her consumers. With the Yokoy acquisition, their product evolves into a real end-to-end T&E answer, additional powered by way of AI.”

That is the 6th acquisition for TravelPerk together with NexTravel, sustainability consultancy Susterra and Click on Commute in 2021. The corporate obtained COVID information specialist Albatross in 2020.

All over Phocuswright Europe final yr, Meir sat down with PhocusWire’s Linda Fox to talk about company commute consolidation, the function of AI and
evolution in expense control. Watch the total dialogue underneath.