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.