Global travel management platform TravelPerk is taking over US rival business travel firm NexTravel for an undisclosed sum.
At least 700 business clients use NexTravel with more than 300,000 trips processed on the platform to date.
The acquisition will include NexTravel’s customer base, technology, employees, inventory and US market expertise.
Chief executive Avi Meir launched TravelPerk from Barcelona in 2015, with the deal supporting ongoing expansion in the US.
NexTravel is TravelPerk’s second and largest acquisition, following the integration of risk management start-up Albatross in July 2020.
Santa Monica-based NexTravel was created by co-founders Wen-Wen Lam and Alexey Pakhomov and launched in 2015.
The acquisition will “significantly increase” the volume of US-based travel via TravelPerk and help the company consolidate its position and emerge stronger from the Covid pandemic.
TravelPerk also unveiled a partnership with Southwest Airlines to enable clients to book the US budget carrier’s US domestic flights.
Meir said:“Our primary goal this year has been to meet our customers’ changing needs in business travel as they navigate the unique challenges created by Covid-19.
“Despite the temporary slowdown in travel worldwide, we have been able to invest significantly in our products and technology and move quickly to strengthen our offering, giving us a great platform for continued growth in our priority markets, particularly the US.
“The US has been an important market for TravelPerk for some time, but we’re now more committed than ever to growing our presence here.
“The acquisition of NexTravel will accelerate our growth in the US, doubling the size of our team on the ground and adding significantly to our client base and in-market expertise.”
Lam added:“Now more than ever, we know travel managers need visibility and control, while travellers want to feel supported, safe and secure.
“By joining forces with TravelPerk, we’ll be able to bring a world-class booking experience to our customers and extend their international capabilities.”
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