TravelPerk, a Barcelona, Spain-based provider of a global business travel management platform, acquired AmTrav, a Chicago, IL-based provider of a technology and service platform designed to make business travel personal and productive.
The amount of the deal was not disclosed.
With the acquisition, TravelPerk will see accelerates US expansion and double its revenue in the country, following 65% year-over-year growth in the market in 2023. AmTrav’s highly localised tech platform doubles TravelPerk’s US revenue and expands its footprint to include offices in Boston, Chicago, Los Angeles and Miami.
Additionally, TravelPerk has raised a new credit facility of up to $135M led by Blackstone Credit & Insurance and Blue Owl Credit.
AmTrav provides a technology and service platform designed to make business travel personal and productive. Companies of all sizes use it to book trips, find savings, set travel policies, manage payments and expenses and keep their travellers safe.
Led by CEO Avi Meir, TravelPerk is a SaaS business travel platform with a large travel inventory alongside management features, 24/7 customer support, technology, and consumer-grade design, all of which enable companies and organisations worldwide like Betterment, Adyen (Nasdaq (ADYEY), Wise and Red Bull to get the most out of their travel.
FinSMEs
18/06/2024