Perk (formerly TravelPerk), the corporate travel and spend management platform, has announced a $300 million private credit facility.
The finance in the Spain-based business was led by Neuberger Speciality Finance, with the participation of Blue Owl Capital, Hercules Capital and Liquidity.
The credit facility increases and replaces Perk’s $134 million credit facility secured in mid-2024 when the company announced the acquisition of Amtrav.
Perk said it exceeded $300 million in annualized revenue and increased revenue by 48% in 2025.
In November 2025, the company rebranded to Perk and unveiled an integrated travel and spend platform. At the time it said the rebrand was intended to move the company closer to eliminating "shadow work," which it defines as "the invisible, non-core work employees do outside of their main job."
Perk said the new credit facility reflects lender confidence in its "vision and strategy and is one of the few private credit transactions of this scale completed by a technology company in the current market."
The finance will go towards product, technology and artificial intelligence (AI) investment.
"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,” said Roy Hefer, CFO of Perk. “Alongside our investment in the product, the continued roll-out of AI throughout the company will enable us to scale faster and more effectively.”
Laura Johnson, managing director of Neuberger Specialty Finance, said Perk’s “strong unit economics, high-quality management team” and execution put it in a good position to help companies manage travel and spend.
Perk announced $104 million in Series D1 funding in January 2025. At the time the company said it would use the funds for new inventory capabilities as well as the launch of new business travel services and further AI-driven product automation.