TravelPerk acquires Yokoy following $200m equity raise to strengthen travel tech expansion

The acquisition supports TravelPerk’s expansion strategy and addresses growing regulatory requirements for corporate expense management.

The company, which caters to small and mid-tier businesses in the US and Europe, offers an all-in-one platform that enables clients like Red Bull and Aesop to manage travel bookings and expenses seamlessly. TravelPerk highlighted the rising need for integrated expense solutions as firms face stricter financial oversight.

The acquisition follows TravelPerk’s push into the US market, including its purchase of travel management firm AmTrav in June 2024. This marks the first venture capital-backed deal in travel tech this year, though analysts anticipate more activity in the sector.

Investment banks have approximately $300bn ready for deployment in tech, with travel emerging as a prime investment area due to its fragmented systems and increasing digital adoption. ACG Partners reported that travel tech saw 180 M&A deals in 2024, nearly triple the 77 recorded in 2021, with consolidation in B2B services driving most of the activity.

Private equity is also showing renewed interest in travel. WestCap’s managing partner, Laurence Tosi, noted that PE firms had largely overlooked the sector until now, but their growing involvement signals its increasing maturity.

Australian travel tech firms, including Traveltek Australia, Aeronology, and Campstay, are also benefiting from heightened investment activity. Meanwhile, Apollo Global Management, which owns The Travel Corporation, has prioritized IT infrastructure upgrades and acquisitions in 2025, signaling further consolidation in the market.

Source: Travel Weekly

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