Felix, Target Global lead $21m series-B for TravelPerk

Oscar Geen
12 April 2018

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VC firms Felix Capital and Target Global have led a $21m series-B funding round for Barcelona-based business travel booking platform TravelPerk.

Previous backers Spark Capital and Sunstone Capital also took part in the round alongside newly founded global VC firm Amplo.

It is the first investment Felix has made from its latest fund, Felix Capital Fund II, a $150m vehicle that hit its hard-cap in July 2017. Berlin-based Highsnobiety was the last investment from Fund I.

Felix has a strong focus on lifestyle investments and had been searching for a deal in the travel sector for more than a year, Unquote understands. The firm has previously completed investments in the food and clothing sectors, such as meal delivery service Frichti and online fashion retailer Farfetch.

The fresh capital will be used to recruit software engineers, product owners and sales representatives in an effort to double the size of the team to 200 by 2019. The company also expects to open new offices in three to five new countries by the end of 2019, starting with the UK and Germany, where its new investors are headquartered.

Felix partner Antoine Nussenbaum and Schmuel Chafets of Target Global will join the company's board.

Previous funding
Spark Capital led a $7m series-A for TravelPerk in June 2016. The company planned to triple its headcount, which was around 20 at the time of the investment and has since quintupled to 100.

Company
Founded in 2015 and headquartered in Barcelona, TravelPerk offers a digital booking platform for arranging and managing business travel. The company claims to save its customers 20% in annual business travel costs compared with legacy corporate tools and travel agents. It has more than 1,000 clients including Typeform, TransferWise, Outfittery, GetYourGuide, GoCardless, Hotjar and CityJet.

People
Felix Capital – Antoine Nussenbaum (partner).
Target Global – Schmuel Chafets (general partner).
TravelPerk – Avi Meir (CEO).