Spanish tech star TravelPerk has raised a whopping $200mn and sealed the acquisition of expenses platform Yokoy.
The investment values TravelPerk at $2.7bn almost double last years $1.4bn valuation.
The business travel giant said the funds would fuel further product development and expansion into the US.
European VC firm Atomico led the Series E investment.
TravelPerk will now integrate Yokoy into one automated platform for travel and expenses.
Customers dont have to compromise anymore, said JC Taunay-Bucalo, TravelPerks president and COO.
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The announcements come amid renewed hopes for the travel industry.
Global tourismreboundedto pre-COVID-19 levels in 2024, while business travel wastrackingto surpass the peak it hit before the pandemic.
Funding is now flowing back intotravel techstartups.
Last year, they enjoyed arecord-breaking yearof investments.
The news also brings together two members of TNWs extended family.
TravelPerk is an alumni of TNWs TECH5 a competition for European scaleups.
Thecontest returnsto TNW Conference on June 19 and 20.
Applications are open until February 28.
Yokoy, meanwhile, is a member ofTNWs communityof fast-growing tech companies.
In 2022, the startup opened a new European base in TNW City, Amsterdam.
Announcing the move, Yokoy pointed to the attractions of the localfintechscene.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
