TravelPerk Raises $200 Million

Barcelona-based business travel management platform TravelPerk has raised $200 million at a hefty $2.7 billion valuation — almost double the $1.4 billion valuation at its previous fundraise last year. Alongside the raise, TravelPerk also announced it has acquired Swiss startup Yokoy to bring native expenses management into the fray. With the travel and tourism industry just about back to pre-pandemic levels, this has proved a boon for startups offering everything from tour packages and trip-planning tools to luggage storage and vacation rental smarts. This trend has been reflected somewhat in the corporate sphere, too, with the World Travel & Tourism Council (WTTC) noting that business travel was on course to hit a record $1.5 trillion in 2024 — 6.2% more than the pre-pandemic peak in 2019. This demand is filtering down into the corporate travel startup space, too, and investors are taking note. In September, news emerged that Denver-based Engine, which focuses on hotel bookings, flights, car rentals, and meeting spaces, had raised $140 million at a $2.1 billion valuation.