TravelPerk, a business travel management platform catering to SMEs, has successfully raised $104 million in a recent round of financing. The funding was spearheaded by SoftBank’s Vision Fund 2, with participation from existing investors such as Kinnevik and Felix Capital. This injection of funds has propelled TravelPerk to a valuation of $1.4 billion, marking a marginal increase from its previous valuation of $1.3 billion.
Key Takeaway
TravelPerk, a business travel management platform, has raised
04 million in funding led by SoftBank’s Vision Fund 2, bringing its valuation to
.4 billion.
Steady Valuation Amidst Challenging Times
Amidst a climate of decreased startup funding and valuations, TravelPerk’s CEO Avi Meir views the company’s flat valuation as a positive outcome. The travel tech industry has shown resilience, with startups raising substantial funds, indicating a promising trajectory for companies like TravelPerk.
Empowering Business Travel
Established in 2015 and based in Barcelona, TravelPerk offers a comprehensive platform enabling companies to seamlessly manage both domestic and international travel. The platform also integrates with expense management systems and HR software, providing a holistic solution for businesses.
Robust Funding and Strategic Approach
TravelPerk’s recent funding marks the fourth installment of its Series D round, further solidifying its financial position. The company’s deliberate approach towards sustainable growth has garnered attention, with SoftBank’s investment signaling confidence in TravelPerk’s response to challenges and its potential for future success.
Future Outlook
While an IPO has not been the primary objective for TravelPerk, the company remains focused on building a resilient and enduring organization. With a seasoned CFO on board and a track record of strategic decision-making, TravelPerk is poised for continued growth and potential future milestones.