Perk secures $300M credit facility for product, tech and AI investment
Perk, the corporate travel and spend management platform formerly known as TravelPerk, has secured a $300 million private credit facility led by Neuberger Specialty Finance, with participation from Blue Owl Capital, Hercules Capital and Liquidity. The facility increases and replaces Perk's $134 million credit facility from mid-2024. Perk said it exceeded $300 million in annualized revenue and grew revenue 48% in 2025. Funds will support product, technology and AI investment; AI deployment has helped lift gross margins from 40% to the mid-70s in three years.
Impact and considerations
The financing signals lender confidence in travel tech, and Perk's AI-driven margin expansion and product investment could intensify competition in corporate travel and spend management.
Key points
- Perk secured a $300M private credit facility led by Neuberger Specialty Finance.
- The facility replaces and expands the $134M credit facility from 2024.
- Perk grew revenue 48% in 2025, exceeding $300M annualized revenue.
- Funds will support product, tech and AI investment; AI lifted gross margins from 40% to mid-70s.
Sources and time
- Primary source
- PhocusWire / Phocuswright
- Other sources
- 0
- First source publication
- 3 Jun 2026, 20:35
- Page published
- 12 Aug 2026, 14:27
- Last updated
- 3 Jun 2026, 20:35
- Original links
- PhocusWire All News：Perk secures $300M in finance for product and technology investment (opens in a new tab)Primary source · en · Published 3 Jun 2026, 20:35