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Tuesday, May 21, 2024

TravelPerk Raises over $100m in Funding with SoftBank Vision Fund 2 as Lead Investor to Enhance Rapidly Growing Business Travel Platform

ng, TravelPerk has now secured a total of $230m as part of its Series D round, marking a significant milestone for the company as it continues to scale and innovate in the business travel sector.

This new investment comes at a time when the business travel industry is experiencing a period of transformation and evolution. As the world begins to emerge from the challenges of the past year, companies are reevaluating their travel management needs and seeking out innovative solutions that can provide greater efficiency, cost savings, and flexibility. TravelPerk is well positioned to meet these evolving needs, offering a comprehensive platform that streamlines the entire business travel process, from booking and managing trips to expense reporting and analytics.

SoftBank Vision Fund 2’s decision to lead this latest investment round is a strong vote of confidence in TravelPerk and its ability to continue driving innovation and growth in the business travel market. With the support of a major player like SoftBank, TravelPerk is poised to accelerate its expansion efforts and further enhance its platform to meet the evolving needs of businesses around the world.

In addition to the financial backing from SoftBank Vision Fund 2, TravelPerk has also received continued support from existing investors, including Kinnevik and Felix Capital. This level of ongoing investment from seasoned backers speaks to the confidence and belief in TravelPerk’s vision and potential for long-term success.

The addition of Stephen Thorne, Investment Director for SoftBank Investment Advisers, to the TravelPerk Board of Directors further strengthens the company’s leadership and strategic guidance. Thorne’s wealth of experience and expertise will undoubtedly be invaluable as TravelPerk looks to capitalize on its recent funding and drive further innovation and expansion.

With this latest investment, TravelPerk is well positioned to solidify its position as a market leader in business travel management. The company’s commitment to providing a seamless, end-to-end solution for companies of all sizes sets it apart in a rapidly evolving and competitive industry. As the demand for flexible, efficient, and cost-effective business travel solutions continues to grow, TravelPerk’s innovative platform is poised to meet and exceed the needs of businesses around the world.

Looking ahead, TravelPerk will continue to focus on leveraging this new investment to enhance its platform, expand its global reach, and bring even greater value to its customers. With the continued support of SoftBank Vision Fund 2, Kinnevik, Felix Capital, and other key investors, TravelPerk is well positioned for continued success and impact in the business travel sector.

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