Perk, the corporate travel and spend management group that until last year traded as TravelPerk, has closed a $300 million private credit facility, money raised as debt rather than equity and at a scale the company says few technology firms have reached in the current market.
The facility is led by Neuberger Specialty Finance, the private-credit arm of investment firm Neuberger Berman, with Blue Owl Capital, Hercules Capital, and Liquidity participating. It upsizes and replaces a 2024 credit line of $134 million, which Perk took out alongside its acquisition of the US corporate-travel firm Amtrav, on what the company calls materially improved terms.
In 2025, Perk crossed $300 million in annualised revenue and grew sales 48%, figures it cites in describing itself as the fastest-growing platform in its category. Gross margins have risen from 40% to the mid-70s over three years, a shift the company attributes to its use of AI across the product.
The proceeds are earmarked for product, technology, and AI, and for the next stage of global growth, including a planned US launch of the integrated spend platform, the product Perk unveiled when it rebranded.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!The borrowing comes seven months after Perk dropped “travel” from its name, rebranding from TravelPerk and folding travel, spend, and events into a single AI-native product.
