Perk, formerly known as TravelPerk, has secured a $300 million private credit facility to support the next phase of growth for its AI-native travel and spend management platform. The financing, led by Neuberger Specialty Finance and backed by major institutional lenders, represents a significant vote of confidence in the company’s business model, technology strategy and long-term growth prospects.
The Perk credit facility increases available capital while replacing the company’s previous financing arrangement on improved terms. The new funding is expected to strengthen an already robust balance sheet and provide resources to accelerate investments in artificial intelligence, product innovation and international expansion.
The announcement comes as Perk continues to scale rapidly, reporting annualized revenue exceeding $300 million and revenue growth of 48% during 2025. These milestones position the company among the fastest-growing players in the travel and spend management sector and reinforce investor confidence in its AI-native platform strategy.
Perk credit facility backed by major institutional lenders
The $300 million Perk credit facility was led by Neuberger Specialty Finance, with participation from prominent financial institutions including Blue Owl Capital Inc., Hercules Capital Inc. and Liquidity.
Industry observers note that large-scale private credit transactions involving technology companies have become increasingly selective in the current funding environment. The successful completion of the Perk credit facility therefore highlights strong lender confidence in the company’s financial performance, operational execution and future growth potential.
According to the company, proceeds from the facility will be used to accelerate investments in product development, artificial intelligence capabilities and strategic expansion initiatives, including the planned United States launch of its integrated spend management platform.
AI-native platform driving rapid growth
Perk has positioned itself as an AI-native platform focused on travel and spend management, helping organizations automate tasks such as travel booking, expense management, invoice processing and event administration. The company’s strategy centres on reducing what it describes as “Shadow Work” — repetitive administrative tasks that consume employee time and reduce productivity.
The company reported that its AI-driven approach has contributed significantly to improved financial performance. Chief Financial Officer Roy Hefer indicated that expanded use of artificial intelligence throughout the platform helped increase gross margins from approximately 40% to the mid-70% range over a three-year period while maintaining customer service standards.
Experts in enterprise software note that artificial intelligence is increasingly becoming a key differentiator in business productivity platforms. Organizations are actively seeking solutions that automate routine processes and improve operational efficiency, creating a substantial market opportunity for AI-focused software providers.
Integrated travel and spend management strategy gains traction
A major milestone in Perk’s growth strategy came in late 2025 when the company introduced its integrated travel and spend management platform. The solution combines business travel, expense management and event administration within a single AI-native ecosystem.
Analysts suggest that integrated platforms are becoming increasingly attractive to enterprises seeking to consolidate vendors, improve visibility into spending and streamline employee workflows. By bringing multiple business functions together, Perk aims to create a unified user experience while reducing operational complexity for customers.
The company’s rapid growth reflects strong demand for digital solutions that simplify travel management and corporate spending processes. With more than 12,000 business customers worldwide, Perk has established a growing presence across international markets.
Lenders highlight strong business fundamentals
The institutions backing the Perk credit facility pointed to several factors supporting their investment decision, including the company’s revenue growth, strong unit economics and leadership position within the AI-powered travel and spend management sector.
Representatives from participating lenders indicated that Perk’s management team, operational execution and technology-driven approach were key reasons for their continued support. Financial specialists often view recurring revenue growth, expanding margins and scalable technology infrastructure as important indicators of long-term business sustainability. The successful completion of the Perk credit facility demonstrates that investors continue to show strong interest in high-growth technology companies capable of combining artificial intelligence innovation with measurable financial performance