TravelPerk takes over Yokoy

(CONNECT) Yokoy is now part of TravelPerk. Since the founding of Yokoy in 2020, both service providers for corporate finance departments have worked closely together: Yokoy as a provider of a cloud-based platform that combines all expenses, supplier invoices and corporate card payments in an integrated and artificial intelligence (AI)-powered solution and TravelPerk as a fast-growing software-as-a-service platform for business travel.

Now, Yokoy's "innovative AI and automation will be combined with TravelPerk's industry-leading platform", said Yokoy CEO and co-founder Philippe Sahli in his press release. "I have spent a lot of time with the TravelPerk team over the past few years and I am convinced that together we can create something truly transformative for our customers."

All of Yokoy's services, integrations and contact partners will remain unchanged, according to the information provided. All users will now benefit from a single, fully integrated solution for travel and cost management.

On its website, TravelPerk informs about a Series E financing in the amount of 200 million dollars that was completed at the same time as the acquisition of Yokoy. This doubled the company's valuation to 2.7 billion dollars. The company, which is headquartered in Barcelona and has branches in London, Birmingham, Edinburgh, Berlin, Chicago, Boston and Miami, is now looking to expand further in the USA and increase its investments in artificial intelligence and product development.

"The innovations coming out of Yokoy's AI labs in Zurich are truly impressive," said TravelPerk CEO Avi Meir in a statement from his company. He is looking forward to "now taking this long-standing partnership to the next level". ce/mm