EQT Co-Leads $200 Million TravelPerk Funding Round at $2.7 Billion Valuation

By Dominic Chopping

STOCKHOLM--Swedish buyout group EQT co-led a $200 million Series E funding round in TravelPerk, valuing the business travel management platform at $2.7 billion.

The investment was also led by Atomico, with participation from Noteus Partners and Sequoia Capital, as well as existing investors, including Kinnevik, General Catalyst, Softbank Vision Fund, and Blackstone.

EQT said the new funding will be used to further accelerate growth, with continued expansion into the U.S. alongside significant investments into product, technology and AI.

Alongside the financing, TravelPerk said it acquired Yokoy, a spend-management platform, to create an integrated travel and expense-management platform.

"As companies face greater economic pressures and more complicated regulatory environments, they are increasingly looking for fully integrated solutions that bring travel and expenses together into one automated platform," EQT said in a statement. "TravelPerk's end-to-end experience simplifies business travel management, streamlining processes and helping companies better control costs."

Carolina Brochado, partner at EQT Growth, will join the TravelPerk board, it said.

TravelPerk was founded in 2015 and is headquartered in Barcelona.

Write to Dominic Chopping at [e-mail]

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