LONDON, July 6, 2021 / PRNewswire / – Travel benefits, the world’s largest travel management platform, today announced the acquisition of UK business travel company Click on Travel. The Baupost Group, a Boston investment manager based with around $ 31 billion in assets under management, provided capital to TravelPerk to fund the acquisition, which will include Click Travel employees, technology and their customers. It establishes TravelPerk as the leading travel management platform for the SME market globally and for the UK as a whole. This is TravelPerk’s third and largest acquisition and is dramatically changing the landscape for business travel. This is the last step in TravelPerk’s ambitious strategy to expand its offering to capitalize on the full recovery of business travel and disrupt the $ 1.3 trillion industry.
Founded in 1999, Click Travel is the fastest growing business travel management company in the UK. It reduces the cost and complexity of business travel for its 2,000 business customers, including Five Guys, Red bull and Speak Speak. Its award-winning all-in-one technology platform helps customers book, manage and report business travel with world-class inventory and 24/7 customer support. The acquisition will combine the expertise of the UK market and Click Travel’s customer base with TravelPerk’s international inventory and innovative suite of products to deliver a 7-star experience for business travelers around the world during and after the Covid pandemic -19. The entire Click Travel team of 150 people, based in Birmingham, will be gradually integrated into TravelPerk, making the city a new hub which will help strengthen TravelPerk’s dominant position in the UK business travel market.
As the only player in the travel industry to continue to grow and grow since the start of the pandemic with a zero-layoff strategy, TravelPerk is able to strategically invest in growth during a period of consolidation in the market. Marlet. The company’s acquisition strategy is focused on companies that share its forward-looking and technology-driven approach to travel management. Click Travel is TravelPerk’s third and largest acquisition, following the integration of the risk management startup Albatross in july 2020 and the acquisition of the American business travel platform NextTravel in January of this year which significantly accelerated TravelPerk’s growth in the US market.
In May 2021, TravelPerk announced $ 160 million in the financing of series D, taking the total amount raised to date at $ 294 million. The funding will be used to fuel TravelPerk’s global growth and to invest in the further development of innovative solutions for travel in a Covid and post-Covid world, such as GreenPerk, TravelPerk’s leading sustainability solution that enables companies to offset 100% of the carbon emissions of their business trips and obtain actionable real-time information on the carbon impact of their business; and FlexiPerk, which, in an industry first, gives travelers full flexibility to cancel anytime up to two hours before their trip and guarantees them a minimum refund of 80%. TravelPerk also recently announced a partnership with Skyscanner who will see the online travel agency taking the travel restriction information directly from TravelPerk TravelSafe API to use in its interactive destination map.
Avi meir, CEO and Co-Founder of TravelPerk, commented:
âWe are truly delighted to welcome the fantastic and talented team of Click Travel to TravelPerk to build long term growth and significantly expand our field team in the UK. We are now not just the dominant player in the UK. UK, we’re the leading travel management platform for SMEs in the world and the only major travel platform that laser-focuses on technology solutions that will stand the test of time.
âSince March of last year, our strategy has been to invest heavily in our product offering and in our global reach, so we were well positioned for the recovery when it came. Today’s news is an important part of this plan â.
âThere is no doubt that the business travel market is on track for a full recovery from last year’s disruption. The meetings that matter will always take place in person, and we’re already seeing a lot of green shoots in our key markets. “
James mclean, CEO of Click Travel added:
âClick Travel and TravelPerk share the same mission: to reduce the cost and complexity of business travel for everyone involved by offering the best inventory and technology and delighting our customers with exceptional customer service.
âThese common goals, combined with the natural cultural fit between our two companies, means that we are incredibly excited to bring our teams together. Combining TravelPerk’s first-class knowledge, technology, experience and customer support with our own is a powerful proposition and we can’t wait to get started. “
TravelPerk is the next generation business travel platform, pioneering the future of business travel. TravelPerk’s all-in-one platform gives travelers the freedom they want while giving businesses the control they need. The result is a saving of time, money and hassle for everyone.
TravelPerk has the world’s largest travel inventory along with powerful management features, 24/7 customer support, leading technology and consumer grade design, all of which empower businesses and organizations around the world. organizations such as TransferWise, Revolut, Monzo, Farfetch and the American Rugby Association, to get the most out of their trip.
Backed by world-class investors such as DST, Kinnevik, Target Global, Felix Capital, Greyhound Capital, Spark Capital, Heartcore, LocalGlobe, Amplo, 14W â investors in some of tech’s most disruptive companies including Zalando, Slack , Trello, Twitter, Farfetch and Delivery Hero – TravelPerk is reinventing business travel with an end-to-end solution that works. Visit www.travelperk.com for more information.
About Click Travel
Click Travel provides award-winning business travel management alongside an award-winning booking platform (Winners of Best TMC Â£ 200m + & Best Self Booking Tool, Business Travel Awards 2020) to reduce the cost and complexity of management travel by combining cutting-edge customer service with its own technology.
By aggregating content from multiple distribution networks into a single platform, Click Travel gives organizations the control to achieve savings through behavior change and policy compliance, combined with expert guidance from its outside teams. online and account management.
Based in the heart of Birmingham United Kingdom, Click Travel is home to a group of passionate, dedicated and expert employees who always go the extra mile to provide truly exceptional service to a group of satisfied customers. Visit www.clicktravel.com for more information.
SOURCE Travel Benefits