Perk (formerly TravelPerk), the AI-native travel and spend management platform, has closed a $300 million private credit facility led by Neuberger Specialty Finance, alongside Blue Owl Capital, Hercules Capital, and Liquidity, replacing its 2024 facility on materially improved terms. The company crossed $300 million in annualized revenue in 2025 with 48% year-over-year growth, has expanded gross margins from 40% to the mid-70s through AI deployment, and will use the facility to fund the U.S. launch of its integrated spend platform. The raise reflects lender confidence in AI-native software companies with strong unit economics at scale and signals Perk’s ambition to compete directly in the U.S. enterprise PAYMENTS and spend management market against platforms like Ramp and Brex.
Travel and Spend Management Fintech Perk Lands $300 Million Private Credit Facility
