Perk

Perk is the company most of the business-travel world still knows as TravelPerk. Founded in Barcelona in 2015 by Avi Meir, Javier Suarez, and Ron Levin, it spent a decade building one of the cleanest booking tools in corporate travel, then in early 2025 raised a $200M Series E at a $2.7B valuation and used the moment to reinvent itself.

The reinvention has two parts. First, it stopped being just a travel company: it bought Swiss spend-management platform Yokoy, and now sells travel, expenses, invoices, cards, and payments as one system. Second, it dropped the TravelPerk name for plain "Perk" and moved its center of gravity to dual headquarters in London and Boston. The pitch underneath all of it is a single idea the company calls shadow work: the hours employees lose to booking, expensing, and chasing approvals, which Perk wants to automate away.

Perk collapses the whole travel-and-spend workflow into a single platform. An employee books a flight, hotel, train, or car from Perk's global inventory, pays on a Perk corporate card, and the expense captures, categorizes, and reconciles itself against company policy without anyone rekeying a receipt.

That end-to-end loop is the product's whole reason to exist. Rivals tend to own one slice, the booking or the expensing or the card, and leave finance teams to stitch the rest together. Perk's bet, made concrete by the Yokoy acquisition, is that owning travel and spend in one place is worth more than being best-in-class at any single piece.

Perk builds its entire narrative around a number: seven hours of lost productivity per employee, per week, which it frames as a $1.7 trillion drag it calls shadow work. Booking a trip through six tabs, gluing receipts into a spreadsheet, coding invoices by hand, and reconciling a corporate card at month-end are the exact chores it targets.

The fix is automation over admin. Receipts capture and categorize themselves, policy breaches get flagged before they clear, invoices route for approval on their own, and card spend reconciles in real time instead of piling up for the finance team in the last week of the month.

Perk sells to three audiences at once, and its own site splits its solutions the same way. Travelers want to book fast and get supported when a flight melts down. Travel managers want policy, approvals, and duty-of-care in one console. Finance teams want real-time visibility, spend controls, and clean reconciliation instead of a month-end scramble.

The customer base skews toward growing and mid-market companies, though it climbs well into the enterprise. The free Starter tier is aimed squarely at smaller teams; the platform fees and richer controls kick in as the org gets bigger and the finance stakes get higher.

Perk's product line reads as two halves that now sit under one roof. On the travel side, booking and 24/7 support; on the spend side, the expenses, invoicing, cards, and payments stack it absorbed from Yokoy. Events rounds it out for the offsites and team gatherings that generate their own tangle of bookings and budgets.

Each piece is designed to feed the others. A booking becomes an expense; a card charge becomes a reconciled line; an invoice becomes an approval that never needed a human to route it.

Perk makes money two ways at once: a monthly platform fee and a percentage of every trip booked. The travel product starts free at Starter with no platform fee and a 5% booking fee, then moves to Premium at $99 a month and Pro at $299 a month, both at a lower 3% booking cut. The combined travel-and-spend plan is priced per user, starting around $11 a month, with cashback on card spend and rebates on travel sweetening the higher tiers.

That structure is what makes the fintech push matter. Card interchange, payments, and expense volume give Perk a second revenue engine beyond travel commissions, which is the whole logic behind buying Yokoy and leaning into spend.

Perk is now fighting on two fronts. In corporate travel it goes up against Navan (the former TripActions), SAP Concur, and legacy travel management companies like Amex GBT. On the spend side, the Yokoy deal drops it into a room with Ramp, Brex, and Concur, all racing to own the corporate card and expense layer.

Its edge is the seam. Most competitors are strong on one side of the travel-spend line and weak on the other; Perk is trying to be the one platform that treats a trip and its expenses as the same object. The risk is obvious too: buying into a crowded fintech category means competing with players who have deeper card and payments roots.

Perk is used by more than 10,000 companies worldwide, with Wise, On Running, Breitling, and Fabletics among the names it puts forward. Behind the logos, the financials it disclosed with its 2025 raise are the real proof: annualized booking volume above 2.3 billion euros, annualized revenue over 191 million euros, growth north of 50% a year for two years running, and EBITDA break-even by the end of 2024.

The combination of that scale and profitability is what let the company nearly double its valuation in a market that had gotten stingy with travel-tech bets.

The recurring praise across review sites is consistent: the interface is clean and easy to use, and booking a whole trip in one place genuinely saves time. For day-to-day travel management, most users find it straightforward.

The complaints are just as recurring, and they cluster around two things. Price comes up often, with users saying flights and hotels can run higher than booking direct once fees are added. And support draws sharply mixed reviews: some find it fast and helpful, while others report slow confirmations, prices shifting before a booking locks, and errors that force them to double-check reservations.

In January 2025 Perk (then TravelPerk) closed a $200M Series E, roughly 191 million euros, in an oversubscribed round that nearly doubled its valuation to $2.7 billion. Atomico and EQT Growth led, with Noteus Partners joining and existing backers Kinnevik and General Catalyst piling in on top of a cap table that already included Sequoia, SoftBank Vision Fund, and Blackstone.

The raise carried a message beyond the dollars. It funded the Yokoy acquisition and an explicit fintech push, and it came on the back of the company hitting EBITDA break-even, a rare pairing of scale and discipline. In total the company has raised roughly $715M across its life, including a separate $135M credit facility in 2024 from Blackstone Credit and Blue Owl to fund the AmTrav deal.

Perk runs an in-person-first hybrid: teams are together three days a week, and roles require living within commuting distance of a hub. It leans hard on a values vocabulary, being an owner, a 7-star experience, impact over effort, and it hires for curiosity and mindset over pure resume, with a workforce of more than 1,800 people drawn from over 70 countries.

A lot of that footprint arrived by acquisition. Click Travel in the UK (2021), AmTrav in Chicago (2024), and Yokoy in Zurich (2025) all folded in teams and offices, which is why the map now runs from Barcelona and London through Boston, Chicago, and Berlin. The leadership bench reflects it too: CEO and co-founder Avi Meir, president and COO JC Taunay-Bucalo, CTO Robin Smith, and a spend chief based in Zurich.

Every Perk role pairs salary with equity ownership, and the company states that plainly on its postings. Disclosed base ranges are US-denominated: engineering reaches into the low $200,000s, sales sits in a wide band that reflects on-target commission, and go-to-market and G&A roles land in the six figures, with some hourly customer-care roles at the AmTrav side.

Base is only part of the story here. Equity comes standard, sales roles carry commission-driven on-target earnings, and US packages layer on a 401(k) match, an HSA option, and comprehensive health cover.

The rebrand to Perk sits on top of several legal entities, one per region and acquired business. Perk Platform SLU covers the core product in Europe, Perk UK Ltd handles the UK and Ireland (and the Click Travel business), Perk USA Inc. covers the US and Canada, and American Travel Solutions LLC runs AmTrav under the Perk umbrella.

Given it moves corporate payments and travel bookings, Perk runs KYB, AML, and identity checks on business customers as a matter of course. Its privacy notice lays out purpose-by-purpose data processing and retention, and points data questions to privacy@perk.com.

The headlines that matter for Perk cluster in a tight window. The 2025 Series E and Yokoy acquisition got wide coverage as the moment it went from travel tool to travel-and-spend platform, and the 2024 AmTrav deal was the setup, the move that doubled its US revenue and pointed North America at becoming its biggest market.

Read together, the coverage tells one story: a profitable European unicorn using an up-round to consolidate a fragmented category around itself.