Spanish tech star Travel<\/a>Perk has raised a whopping $200mn and sealed the acquisition of expenses platform Yokoy.<\/span><\/p>\n The investment values TravelPerk at $2.7bn \u2014 almost double last year\u2019s $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<\/a> E investment.<\/span><\/p>\n Alongside the cash injection, TravelPerk announced the purchase of Yokoy, a Swiss startup that\u2019s become a market leader in expense management. TravelPerk will now integrate Yokoy into one automated platform for travel and expenses.<\/span><\/p>\n \u201cCustomers don\u2019t have to compromise anymore,\u201d said JC Taunay-Bucalo, TravelPerk\u2019s president and COO. \u201cNow, they can have the best travel management product built on the world\u2019s largest inventory, and the expense management product that works best for their business, combined for the best-integrated experience there is.\u201d<\/span><\/p>\n The announcements come amid renewed hopes for the travel industry. Global tourism <\/span>rebounded<\/span> to pre-COVID-19 levels in 2024, while business travel was <\/span>tracking<\/span><\/a> to surpass the peak it hit before the pandemic.<\/span><\/p>\n Webinar: Nurturing Scaleup Success<\/p>\n Join us on 18 February for a discussion on the vital role of ecosystems in nurturing startups and scaleups and fostering a dynamic entrepreneurial landscape.<\/p>\n<\/div>\n<\/div>\n Funding is now flowing back into <\/span>travel tech<\/span> startups. Last year, they enjoyed a <\/span>record-breaking year<\/span><\/a> of investments.\u00a0\u00a0<\/span><\/p>\n The news<\/a> also brings together two members of TNW\u2019s extended family. <\/span><\/p>\n TravelPerk is an alumni of TNW\u2019s TECH5 \u2014 a competition for European scaleups. The <\/span>contest returns<\/span> to TNW Conference on June 19 and 20. App<\/a>lications are open until February 28.<\/span><\/p>\n Yokoy, meanwhile, is a member of <\/span>TNW\u2019s community<\/span> of fast-growing tech companies. In 2022, the startup opened a new European base in TNW City, Amsterdam.<\/span><\/p>\n Announcing the move, Yokoy pointed to the attractions of the local fintech scene.<\/span><\/p>\n \u201cOur move into the market is not about just setting up a satellite sales office in a new location \u2014 we see Amsterdam as a crucial hub for growing our European operations,\u201d Lars Mangelsdorf, the company\u2019s co-founder and chief customer officer, said at the time.<\/span><\/p>\n \u201cThe Dutch market is advanced when it comes to fintech adoption, and it felt like a natural next move to bring our spend management solution to businesses in the region.\u201d<\/span><\/p>\n<\/p><\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n
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