Barcelona-based TravelPerk has scooped up US-based rival NexTravel as the pandemic drives consolidation in one of the sector’s hardest hit by COVID-19.
It’s not disclosing how much it’s shelling out for NexTravel, which has some 700 customers globally and has processed around 300,000 trips since being founded back in 2013, but says the deal is its largest acquisition to date — with the aim of beefing up its business in the US. (Also today it’s announcing a partnership with Southwest Airlines that plugs a key gap in its US offering.)
The US has always been a top five market for TravelPerk, per CEO and co-founder, Avi Meir, but after the NexTravel acquisition it becomes its largest market.
“US customers, US know-how, [US-based] team,” he said, listing the drivers for the acquisition. “They’ve built an amazing product. It’s a Y Combinator company who started 2-3 years before us and they focused only or mostly on the US market so they have an expertise that is very complementary to what we’re doing.”
Meir confirmed NexTravel’s founders and team are joining TravelPerk as part of the deal. Existing customers include the likes of Yelp, Stripe and Harry’s.
“They’re a great company. I really think we have great …read more
Source: Tech Crunch