Business travel platform TravelPerk, founded in Barcelona in 2015, raised a €53M round from existing investors that closes its series C round at a total of €91M. The new investment has the participation of Kinnevik, Partners of DST Global, Target Global, Felix Capital, Sunstone and LocalGlobe.
This series C extension comes after an exceptional 2018, when the company raised €55M also from existing investors. According to TravelPerk’s release, the new investment will be used “to further accelerate the company’s product innovation”, as well as “to continue European expansion”.
TravelPerk’s platform hosts “the world’s largest bookable travel inventory”, allowing travelers to compare, book and invoice trains, cars, flights, hotels and apartments from a range of providers including Kayak, Skyscanner, Expedia, Booking.com, and Airbnb.
In 2019, TravelPerk’s business registered a 300% increase in revenue on the platform, 250% increase in headcount since the start of the year, and new office openings in London and Berlin. The company partnered recently with Lufthansa, Trainline, Spendesk, and Expensify, and some of their client companies are Transferwise or Glovo.