Perk, formerly TravelPerk and now rebranded as an AI-native travel and spend management platform, has closed a $300m private credit facility as it moves to accelerate global growth and prepare for the imminent launch of its integrated spend platform in the United States.
The facility was led by Neuberger Specialty Finance, with participation from Blue Owl Capital, Hercules Capital and Liquidity. It supersedes the company’s 2024 credit facility on considerably more favourable terms, and is described as one of the few private credit transactions of this size to be completed by a technology company in the current market. Capital raised is intended to fund further investment in product development, technology and artificial intelligence, as well as support Perk’s broader international growth ambitions.
Perk crossed $300m in annualised revenue during 2025, recording 48% revenue growth over the year. The company describes itself as the fastest growing platform in the global travel and spend management space, citing gross margins — which it says have climbed from 40% to the mid-70s over the past three years — as evidence of a near-term route to profitability. In November 2025, Perk launched an integrated platform combining travel, spend and events management within a single AI-native product.
Perk provides businesses with a unified platform for managing corporate travel, employee spending and event planning. The company — which rebranded from TravelPerk — positions itself around the application of artificial intelligence across its product suite, with AI cited as a central driver of its margin improvement and operational scalability.
Perk CFO Roy Hefer said, “AI is a huge tailwind for Perk and its deployment throughout our product has enabled us to drive gross margins from 40% to mid-70s in 3 years, whilst maintaining the highest levels of customer experience. Alongside our investment in the product, the continued roll-out of AI throughout the company will enable us to scale faster and more effectively. We are thrilled to have this group of top-tier lenders who understand the scale of the opportunity ahead and are enthusiastically backing this next phase of growth.”
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