Perk (formerly TravelPerk), a travel and spend management platform, announced the close of a $300 million private credit facility led by Neuberger Specialty Finance, alongside Blue Owl Capital Inc., Hercules Capital Inc. and Liquidity. The facility, according to the announcement, upsizes and replaces Perk’s 2024 credit facility on materially improved terms.

In 2025, according to the company, Perk passed $300 million in annualized revenue and grew revenue 48%. In November 2025, said the announcement, Perk launched its integrated travel and spend platform, bringing travel, spend and events into one AI-native product experience.

Proceeds of the facility, said the announcement, are expected to accelerate investment in product, technology and AI, and fund Perk’s next phase of global growth, including the upcoming US launch of its integrated spend platform. The company has headquarters in Boston and London.

Roy Hefer, CFO of Perk, said, “AI is a huge tailwind for Perk and its deployment throughout our product has enabled us to drive gross margins from 40% to mid-70s in three years, while maintaining the highest levels of customer experience.”