Perk receives 300 million US dollars for global expansion

The business travel and expense management company Perk has completed a private financing of 300 million US dollars. The financing is led by Neuberger Specialty Finance. Further investors are Blue Owl Capital, Hercules Capital and Liquidity.

The financing replaces and extends the existing credit line from 2024 at improved conditions and strengthens the company's capital base for the next growth phase.

Growth trajectory continues

Perk, which was known as TravelPerk until the end of 2025, achieved revenue growth of 48% last year.

According to the company, annualized revenue exceeded the USD 300 million mark for the first time. This makes Perk one of the fastest growing providers in the global travel and expense management market. The company was also able to significantly improve its gross margins, which are now in the region of over 70 percent.

AI is becoming the key growth driver

A key driver of this development is the increasing use of artificial intelligence. Perk automates business travel bookings, expense management, invoice processing and event organization within an integrated platform. The aim is to reduce "shadow work", i.e. administrative activities that do not directly add value.

According to the company, the increased use of AI has increased gross margins from around 40 percent to the mid-70 percent range within three years. The new funds will be used in particular to invest in:

• AI development
• product innovation
• automation
• international expansion
• the US rollout of the Spend platform

will be accelerated.

Travel and expense management from a single platform

At the end of 2025, Perk presented its integrated platform, which bundles business travel, expense management and corporate events into a single application. The company is thus positioning itself as a comprehensive platform for travel and expense management and is addressing a market that is increasingly looking for integrated solutions. More than 12,000 companies worldwide already use the platform, including well-known brands such as On, Breitling and Fabletics.

Private credit is gaining importance in the startup market

The financing structure is exciting and should be considered separately. While many growth companies continue to rely on traditional venture capital rounds, Perk uses a large-volume private credit approach. Particularly in an environment in which equity financing has become more difficult, alternative forms of financing are becoming increasingly important.

The successful placement of a 300 million dollar financing is therefore also seen as a sign of confidence in the company's economic development and its scaling strategy.

Global market leadership firmly in sight

Perk intends to use the financing to further expand its position as a global platform for travel and expense management. The focus is particularly on the US market, where the company plans to officially launch its integrated spend platform in the coming months.

At the same time, AI functions are to be integrated even more closely into all areas of the company in order to further increase productivity, automation and scalability. Perk is thus continuing its transformation from a business travel platform to a comprehensive AI-based platform for corporate spend.