Perk Secures $300 Million Credit Facility to Accelerate Global Growth of Its AI-Native Platform
- The $300m facility backed by top-tier lenders reflects strong conviction in Perk's vision to build a leading AI-native platform for travel and spend management
- Perk enters its next phase of growth on the back of a 48% revenue growth in 2025, best-in-category gross margins, and a platform built for global scale
- The new credit facility upsizes and replaces Perk's prior facility on materially improved terms, while increasing available capital to further strengthen an already strong balance sheet
Perk (formerly TravelPerk), the AI-native travel and spend management platform, today announced the close of a $300 million private credit facility led by Neuberger Speciality Finance, alongside Blue Owl Capital Inc. (NYSE:OWL), Hercules Capital Inc. (NYSE:HTGC) and Liquidity. The facility upsizes and replaces Perk's 2024 credit facility on materially improved terms.
In 2025, Perk crossed $300m in annualized revenue and grew revenue 48%, making it the fastest growing global travel and spend management platform, with best in category gross margins providing a clear pathway to profitability in the short term. In November 2025, Perk launched its integrated travel and spend platform, bringing travel, spend and events into one AI-native product experience.
This new facility reflects lender confidence in Perk's vision and strategy, and is one of the few private credit transactions of this scale completed by a technology company in the current market. Proceeds are expected to accelerate investment in product, technology and AI, and fund Perk's next phase of global growth, including the upcoming US launch of its integrated spend platform.
"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" comments Roy Hefer, CFO of Perk.
"We are excited to lead this credit facility for Perk, an exceptional company and a clear AI-native leader in a massive market," said Laura Johnson, Managing Director at Neuberger Specialty Finance. "Its strong unit economics, high-quality management team, and demonstrated track record of execution position the company exceptionally well to capitalize on the significant opportunity to transform how companies manage travel and spend."
"We are delighted to partner with Perk again to provide capital to support the next phase of growth," said Kurt Tenenbaum, Senior Managing Director at Blue Owl Capital. "The company has built a remarkably durable business model, with best-in-class AI capabilities and strong growth that is rare at this scale. Having seen this firsthand over the last two years, we are proud to continue supporting the team as they accelerate their global expansion."
"Perk has built one of the most compelling AI-native software platforms, combining exceptional growth with strong unit economics and a clear path to long-term profitability," said Ron Daniel, Co-Founder and CEO, Liquidity. "We are excited to support the company through their next phase of growth."
About Perk
Perk (formerly TravelPerk) is an intelligent AI-native platform for travel and spend management, built to eliminate the hidden, manual tasks that drain productivity and morale - what Perk calls ‘Shadow Work'. By automating travel bookings, expenses, invoice processing and events, the platform gives teams back time to focus on real work, with real impact. Trusted by more than 12,000 companies worldwide - including On Running, Breitling and Fabletics - Perk is tackling the 7 hours of lost productivity per employee each week, a $1.7 trillion problem revealed in The Cost of Shadow Work report. Founded in 2015, the global company combines innovation, control, and simplicity to transform how businesses work today and in the future. Perk's mission is to power real work by removing the invisible tasks that slow teams down. Perk is a proud partner of the Audi Revolut F1 Ⓡ Team.
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