TravelPerk, a Barcelona-based startup dedicated to business travel, has secured €38M in Series C funding from “some of the world’s most successful technology investors including Kinnevik, Yuri Milner and Tom Stafford”, according to the company’s release. This new funding will enable the firm to expand into new markets with the opening of a new London office, followed soon by bases in Berlin, Amsterdam and Paris.
TravelPerk has developed a platform that allows teams to manage trips from booking to accounting all in one place. The company claims that the service cuts the time needed to manage a trip from 3 to 4 hours to just 10 minutes, “saving companies more than 20% in annual travel costs”. Since its foundation in 2015 by CEO Avi Meir and CPO Javier Suárez, TravelPerk has increased revenues by 700% growth year on year, and has now raised nearly €65M in total funding.
In this latest round, existing investors such as Felix Capital, Target Global, Spark Capital, LocalGlobe, Sunstone and Amplo are also supporting the company. These investors are backing other technology companies including Zalando, Twitter, Slack, Trello, Farfetch, Deliveroo and Delivery Hero.