AI-powered travel and spend management platform will use funding to support expansion across the UK, Europe and the United States
Birmingham-technology company Perk has secured a £25 million funding facility from NatWest to support its continued growth across the UK, Europe and the United States.
Founded in 2015, Perk has grown into a global provider of AI- travel, expense and spend management technology, helping more than 12,000 businesses manage corporate travel, invoices, expenses and company spending through a single integrated platform. The business now employs more than 1,800 people worldwide and has reported annualised revenues approaching $400 million.
The funding will provide additional working capital to support the company's next phase of growth as it continues to expand its international footprint and invest in its technology-led offering.
at Alpha Tower in Birmingham, Perk is part of a growing cluster of innovative technology businesses choosing the West Midlands as a base for growth. Its platform uses artificial intelligence to automate processes including expense categorisation, receipt matching, invoice processing and travel policy compliance, helping organisations reduce administration and improve visibility over spending.
Perk has also integrated sustainability tools into its platform, providing customers with carbon emissions data, reporting capabilities and travel insights that support more informed decisions about the environmental impact of business travel.
NatWest’s funding comes as businesses increasingly invest in AI-enabled technology to improve productivity, automate manual processes and gain greater visibility over spending. Perk's platform brings together travel booking, expense management, invoice processing and spend controls in a single system, helping organisations simplify day-to-day operations while maintaining control as they grow.
Ed Eden, SVP Strategic Finance at Perk, said: "Perk has experienced significant growth as businesses increasingly look for smarter ways to manage travel and spend. This funding gives us additional flexibility to support our continued expansion across international markets and invest further in our platform and customer experience.
"NatWest understands our ambitions and has worked with us to put in place a facility that supports our long-term growth plans."
Richard Dowen, Relationship Director at NatWest, said: "Perk is an excellent example of the kind of innovative, high-growth business emerging from the West Midlands. The company has built a global customer base and continues to demonstrate strong ambition as it expands into new markets.
"We're pleased to support the next stage of its growth journey and help the business capitalise on opportunities across the UK, Europe and the United States."
As Perk continues to scale internationally, the funding will support the company's ambitions to grow its global presence while reinforcing Birmingham's reputation as a centre for innovation, technology and entrepreneurship.
Image of Perk AI-powered travel and spend management platform (PNG, 1.3 MB).
For further press information, please contact Jessica Barker, Corporate Affairs Manager at NatWest: jessica.barker@natwest.com
Notes to editors
About NatWest
NatWest is a UK-focused bank serving over 20 million customers, with businesses across retail, commercial and private banking markets. As a leading UK bank, we work hard to enable our customers and their businesses to succeed. Today, our customers’ businesses reach far and wide. New opportunities bring new challenges and our ability to access global markets benefits everyone.
About Perk
Perk (formerly TravelPerk) is an intelligent AI-native platform for travel and spend management, built to eliminate the hidden, manual tasks that drain productivity and morale - what Perk calls shadow work. By automating travel bookings, expenses, invoice processing and events, the platform gives teams back time to focus on real work, with real impact. Trusted by more than 12,000 companies worldwide - including On Running, Breitling and Fabletics - Perk is tackling the 7 hours of lost productivity per employee each week, a $1.7 trillion problem revealed in The Cost of Shadow Work report. Founded in 2015, the global company combines innovation, control, and simplicity to transform how businesses work today and in the future. Perk’s mission is to power real work by removing the invisible tasks that slow teams down. Perk is a proud partner of the Audi Revolut F1® Team.
Visit www.perk.com for more information
