TravelPerk closes its first major financing round of the year in Spain. The business travel management platform has risen 104 million dollars (95 million euros) in a new round of financing. The investment was led by the Japanese giant Softbank Vision fund 2and Kinnevik and Felix Capital also participated.
This operation would be an extension of the one the company carried out in 2022, where it raised $115 million (€101 million) through a Series D funding round and managed to become a unicorn. The company's valuation at the time was $1.3 billion, very similar to this round 1.4 billion dollars (1.28 billion euros).
“This latest investment comes at a time when successful technology companies are standing out from the crowd and further validates our investors’ commitment to our vision and strategy.” comment Avi Meir, CEO and co-founder of TravelPerk in the statement.
According to the newspaper La Vanguardia, the company increased sales by more than 70% in 2023 compared to the previous year, but does not provide absolute sales figures.
“In the vast global business travel market, SMEs remain a largely underserved segment. TravelPerk continues to innovate and integrate AI across its product range to provide customers and travelers with a best-in-class experience. We are excited to partner with TravelPerk and support their next phase of growth” explained Stephen Thorne, Chief Investment Officer, SoftBank Investment Advisers.