Perk, formerly TravelPerk, has secured a $300M private credit facility led by Neuberger Specialty Finance to fund AI development and a US expansion of its integrated spend platform. The facility replaces a 2024 $134M credit line on improved terms. Perk crossed $300M in annualised revenue in 2025 with 48% sales growth, attributing margin improvements from 40% to the mid-70s to its AI-native approach. The company, which rebranded in 2025 to fold travel, spend, and events into one platform, plans to use the funds for product, technology, and global growth including a US spend platform launch.
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