TravelPerk, a business travel platform with headquarters in Barcelona, announced a new Series E fundraising of $200 million. The investment is led by European venture capital firm Atomico, alongside EQT Growth, with significant participation from Noteus Partners and existing investors, including Kinnevik and General Catalyst. The funding round nearly doubles TravelPerk’s valuation to $2.7 billion.

The funding, said the announcement, will be used to further accelerate growth, with continued expansion into the US market (following the acquisition of AmTrav in 2024) alongside significant investments into product, technology and AI.

The company also announced its acquisition of Yokoy, a provider of AI-powered expense, invoice and card payment processing. As companies face greater economic pressures and more complicated regulatory environments, said the announcement, they are increasingly demanding a fully integrated solution that brings travel and expenses together into one automated platform, to simplify the end-to-end experience, streamline processes and help them better control costs.

Through its acquisition of Yokoy, and deep integrations via an open ecosystem of strategic expense management partners, said the announcement, TravelPerk is positioned to provide customers in Europe and the US highly localized solutions to suit their individual needs, preserving customers freedom of choice and flexibility.

JC Taunay-Bucalo, president and COO, said that until now, customers had to make hard trade-offs — an integrated solution or best-in-class travel and expense solutions. He added that
“customers don’t have to compromise anymore.” Now, said Taunay-Bucalo, “they can have the best travel management product built on the world’s largest inventory, and the expense management product that works best for their business, combined for the best integrated experience there is.”