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TravelPerk raises $160M in equity and debt after a year of derailed business trips The pandemic has hammered the travel sector over the past 12 months so you’d be forgiven for feeling a bit of pre-COVID-19 déjà vu at this news: Business trip booking platform TravelPerk is announcing a $160M Series D. The round, which is a mix of equity and debt funding, is led by London-based growth equity firm Greyhound Capital. Existing investors also participated (specifically: DST, Kinnevik, Target Global, Felix Capital, Spark Capital, Heartcore, LocalGlobe and Amplo). No valuation is being disclosed, nor is the split between equity and debt. So it’s a bit more of a convoluted ‘vote of confidence’ vs TravelPerk’s pre-pandemic raises as you’d expect given the locked down year we’ve all had. ....
Where Will the Money Go? Both companies do appear to have different intents. TravelPerk, for one, is coming to America. A “very significant” part of the new $160 million funding will be deployed in the U.S. as it goes after winning small and mid-size businesses. This expansion will be on top of its acquisition of Santa Monica-based NexTravel in January, and more acquisitions are highly likely. It’s a marked difference to TripActions’ European invasion, as it goes after enterprise-sized customers. “We’re alone in this market, because TripActions has taken the high end of the market. We want to double down on this gigantic market in the U.S.,” Taunay-Bucalo said. ....
TravelPerk raises $160 million Series D to accelerate global growth - New $160 million in funding shows investors confidence in business travel recovery and brings total investment raised to date by TravelPerk to $294 million - The funding will be used to accelerate TravelPerk s growth in the US and Europe and its mission to be the best global travel platform by fueling investment in product innovations and pursuing additional acquisitions - The round, led by Greyhound Capital, with participation from existing investors, continues TravelPerk s momentum following its acquisition of US competitor NexTravel in January this year News provided by Share this article TravelPerk, the largest and fastest growing global travel management platform, today announced it has raised ....
Share Travel management platform TravelPerk has announced a further US$160 million in equity and debt funding, bringing the total it has raised to date to US$294 million. The company says the Series D funding, from Greyhound Capital, will be used to focus on growth in the US and Europe, in particular, and on product innovations designed for the changing needs of travellers and small-medium sized businesses post-pandemic. Greyhound has investments in companies such as fintech companies Revolut, Brex, Marqeta and N26 as well as vehicle hire company Careem. Some of TravelPerk s growth may come from acquisition. The company has already ....