Barcelona-based travel management platform TravelPerk has raised US$200 million in a series E funding round, increasing its valuation to US$2.7 billion.

The round, led by Atomico with participation from EQT Growth and others, brings TravelPerk’s total funding to US$860 million since its founding in 2015.

In a separate announcement, TravelPerk acquired Swiss startup Yokoy, an AI-driven spend management firm, for an undisclosed amount.

With global business travel spending projected to surpass US$1.5 trillion in 2024, TravelPerk plans to capitalize on growing demand by enhancing its offerings and expanding its US presence.

The funding and acquisition position TravelPerk to strengthen its role as a leader in travel and expense management solutions.