TravelPerk Raises $200M, Acquires Yokoy for Expense Management

TravelPerk has secured $200 million in Series E funding, further strengthening its position in corporate travel and expense management with the acquisition of Yokoy, a Switzerland-based AI-powered expense automation platform.

The funding round was led by Atomico and EQT Growth, with participation from Kinnevik, General Catalyst, Softbank Vision Fund, Blackstone, and Notues Partners, valuing TravelPerk at $2.7 billion.

This follows a $104 million Series D-1 extension in early 2024 and a $135 million credit facility, which helped expand TravelPerk’s U.S. market presence after acquiring corporate travel firm AmTrav.

Yokoy, founded in 2019, specializes in AI-driven expense, invoice, and payment automation. The acquisition allows TravelPerk to offer an integrated travel and expense (T&E) solution, a trend growing among business travel platforms. Competitors like MakeMyTrip, Expensify, Ramp, and Brex have recently pursued travel-expense integrations.

TravelPerk CEO Avi Meir emphasized the company’s vision for AI-driven travel and expense management, calling Yokoy’s AI technology a game-changer. The company now boasts $2.5 billion in gross bookings, over $200 million in revenue, and reached EBITDA break-even at the end of 2024.

With this sixth acquisition, TravelPerk continues to expand globally, aiming to become the leading AI-powered travel and expense management platform. The funding will accelerate U.S. growth, product innovation, and AI integration, reinforcing its competitive edge in the corporate travel sector.

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TravelPerk Raises $200M, Acquires Yokoy for Expense Management

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