Business-travel startup Travelperk has raised $7m in Series A funding led by Spark Capital.
The Barcelona-based business provides companies with a platform to budget, book and manage their corporate travel.
Additional investors participating the round include Sunstone Capital and Travelperk's original backers LocalGlobe.
Travelperk was founded last year by Avi Meir and Javier Suarez who along with the team have worked for Booking.com, Hotel Ninjas, Skyscanner and El Al Airlines. They see opportunity for an easy-to-use tool for booking and managing business travel which provides the user experience of leisure travel with the processes required in business travel such as spend visibility, control and policy compliance.
Meir explains:
"For too long business customers have been saddled with sky high fees, and inflexible and inefficient products. TravelPerk has addressed this by building a new category for enterprise travel: ‘a one stop shop’ with a core mission to simplify business travel and management for travelers and those who book for them."
The startup plans to recruit further members to the team, develop its technology platform and expand globally.
As part of the financing, Spark Capital’s general partner Alex Finkelstein will join Travelperk's board of directors.
Finkelstein says:
"With years of experience in the travel sector, Avi and Javier have assembled an exceptional team with a huge market opportunity. The problems associated with business travel management are both longstanding and universal."