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TravelPerk Raises $21 Million for Business Travel Bookings

TravelPerk, an online travel agency for business travelers, raised $21 million (€17 million) in Series B funding.

Target Global and Felix Capital co-led the round. Spark Capital, Sunstone, and Amplo also participated.

Barcelona-based TravelPerk has raised $30 million in total funding since its founding in 2015.

“What we have today is basically equivalent to the top consumer booking sites out there in terms of inventory and speed,” said co-founder and CEO Avi Meir. “We have invested heavily in the infrastructure, and we’ve seen more than 10 times year-over-year growth every quarter.”

Competitors in direct-to-business-traveler sales include TripActions, which raised $51 million in early March 2018, and NexTravel.

Meir said, “Having the best inventory is definitely something we took as a lesson from Booking.com. Instead of focusing on a nice looking app like other startups, we decided to do the unsexy thing and build inventory and direct integration with suppliers.”

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