Latest news with #TravelPerk
Yahoo
11-07-2025
- Business
- Yahoo
Kinnevik AB (KNEVF) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Net Asset Value (NAV): Up 2% to 36.8 billion SEK or 133 SEK per share at the end of Q2 2025. Private Portfolio Fair Value: Increased by 3% in SEK and 5% in constant currencies. Net Cash Position: 9.6 billion SEK after investing 0.9 billion SEK. Investment Pace: 860 million SEK in Q2, with 0.7 billion SEK in new portfolio additions. Core Companies Revenue Growth: Over 35% year-over-year in the first half of 2025. EBITDA Margin Improvement: Increased by 4 percentage points year-over-year. Travel Perk Revenue: Annualized revenues reached $275 million in Q2, up from $200 million at the start of the year. Core Companies Valuation: Up 3% in SEK and 7% in constant currencies. Currency Impact: Negative impact of 0.7 billion SEK on NAV due to currency movements. Core Companies Future Outlook: Expected average growth of 30-40% over the next 12 months with an EBITDA margin between break-even and 5%. Warning! GuruFocus has detected 3 Warning Sign with KNEVF. Release Date: July 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kinnevik AB (KNEVF) reported a 2% increase in net asset value, reaching 36.8 billion SEK at the end of the second quarter. The private portfolio's fair value increased by 3% in SEK and 5% in constant currencies. The company maintains a strong net cash position of 9.6 billion SEK, providing flexibility for future investments. Core companies like Spring Health, Travel Perk, and Pleo demonstrated solid operational performance, with revenue growth over 35% on average. Tandem Health, a new portfolio addition, is expanding rapidly with its AI medical assistant, showing significant potential for growth across Europe. Currency fluctuations negatively impacted the net asset value by 0.7 billion SEK in the quarter. The US dollar depreciation and Euro appreciation led to a 2.5% decrease in the private portfolio's currency basket value. City Block's valuation faced a 1% decline due to multiple contractions despite solid performance. The market environment for transactions within the existing portfolio was limited in Q2, affecting capital deployment. Recursion Pharmaceuticals' stock performance has been weak, down nearly 30% this year, despite positive developments in partnerships. Q: Could you explain the almost 10% point difference between peer multiples and your multiples? A: Samuel Sjostrom, CFO: The strong operating performance this quarter allowed us to increase the discounts across the portfolio. We aim to let other investors re-rate our businesses, similar to what happened with Travel Perk earlier this year. Q: What is the market opportunity for Tandem Health, and how can it become a unicorn? A: Georgi Ganev, CEO: Tandem Health has significant traction with its AI medical assistant already adopted across Europe. The potential lies in expanding the product suite to integrate with healthcare systems, which presents a large market opportunity, especially in the fragmented European market. Q: How does the IPO of Hinge Health impact Spring Health's valuation? A: Samuel Sjostrom, CFO: We include Hinge Health in the peer set but do not overweight it. Spring Health is growing faster, but we account for a potential IPO discount to ensure we're on the right side of valuations. Q: Could you elaborate on Spring Health's profitability and client retention? A: Samuel Sjostrom, CFO: Spring Health is profitable on a cash flow basis, slightly behind Hinge Health in margins but growing faster. There has been no churn in major clients; the changes in highlighted clients reflect Spring's communication preferences. Q: What is the outlook for City Block given recent US Medicaid cuts? A: Georgi Ganev, CEO: Despite potential short-term turbulence, City Block's long-term growth potential remains intact due to its small market share and proven cost reductions. We have not changed our 2-3 year growth plan for City Block. Q: Will Kinnevik consider utilizing the buyback mandate given the current market conditions? A: Georgi Ganev, CEO: While we have the buyback tool available, current investment opportunities within our portfolio and focus sectors are prioritized. The timing of any buyback will be considered carefully. Q: How does Kinnevik plan to manage its cash position if the IPO market opens up in 2026? A: Georgi Ganev, CEO: We see opportunities to invest in new and existing businesses. An IPO does not necessarily mean divestment; we may remain long-term holders if the company is attractive. Our cash position is a strategic asset in the current market. Q: What is the nature of the smaller investments made this quarter? A: Samuel Sjostrom, CFO: The significant investment was in a tech bio company, with details to be announced later. We also invested in an early-stage AI native software business, identified through our core companies' usage. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Travel Weekly
23-06-2025
- Business
- Travel Weekly
Travelperk
2024 sales: $2.22 billion Previous ranking: Not ranked Employees: 1,500 full-time Carrer dels Almogavers, 160 Sant Marti, 08018 Barcelona, Spain Phone: + 34 931 227 629 Website $2.22 billionNot ranked1,500 full-timeCarrer dels Almogavers, 160 Sant Marti, 08018Barcelona, SpainPhone: + 34 931 227 629 Executives CEO: Avi Meir CFO: Roy Hefer PRESIDENT/COO: Jean-Christophe Taunay-Bucalo CHIEF REVENUE OFFICER: Yasmine Bratt SVP, ENGINEERING: Robin Smith SVP, PRODUCT: Jon Hoar CEO, AMTRAV, A TRAVELPERK COMPANY: Jeff Klee CEO, YOKOY, A TRAVELPERK COMPANY: Philippe Sahli COMPANY FACTS * Privately held. * Backed by a range of investors, none of whom individually owns a majority of shares. * A business travel and expense management platform. * Sales: 100% business. DEVELOPMENTS * Acquired travel management company Amtrav (No. 24 on the 2024 Power List) and partnered with SilverRail to enable Amtrak content on its platform. * Achieved growth and profitability at scale with annualized booking volumes of more than $2.5 billion, annualized revenue of more than $200 million and growth of more than 50% per annum in the last two years. It reached Ebitda break-even at the end of the year. * Closed its Series E round, raising $200 million in funding, led by Atomico and EQT Growth with Noteus Partners and existing investors, including Kinnevik and General Catalyst, increasing the company's valuation to $2.7 billion. * Launched its 20th NDC integration in August with Emirates. * Better served its customers through automation and AI. Embedded AI in its customer care operations has enabled it to serve twice the volume of queries with the same number of agents. LOOKING AHEAD * Acquiring Yokoy, an AI-powered expense, invoice and card-payment-processing tool, and integrating other expense management partners. * Anticipating accelerated growth with continued expansion into the U.S. market and significant investments into product, technology and AI. * Celebrating its 10th anniversary, rebranding to "break away from the current sea of blue within the industry" and matching the evolving needs of today's diverse workforce.
Skift
20-06-2025
- Business
- Skift
Ramp Raises $200 Million for Expense and Biz Travel Management: Startup Funding Roundup
Startups for business travel management and flying taxis are still raising a lot of money. Travel Startup Funding This Week Each week we round up jd@ if you have funding news. Each week we round up travel startups that have recently received or announced funding . Please email Travel Tech Reporter Justin Dawes atif you have funding news. There's a lot of money going into tech platforms to manage business travel and expenses. The most recent is Ramp, which raised $200 million this week. It comes months after TravelPerk raised $200 million, with multiple other companies raising smaller rounds. Also this week: Navan, a corporate travel agency, has taken a step toward becoming a public company. And flying taxi companies — most recently Archer Aviation — have been raising billions of dollars in their race to operate commercially. Between Ramp, Archer Aviation, and a small startup, travel companies raised over $1 billion in the past week. Ramp: $200 Million Ramp, an expense management platform with travel booking capabilities, has raised $200 million in series E funding. The latest funding values the company at $16 billion, a jump from $13 billion since its previous fundraise in March and $7.65 billion since its series D extension in 2024. Founders Fund led the round for the fifth time. Other investors included Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital. Ramp said it has now raised a total of $1.4 billion in equity financing. The New York City-based company started with a focus on corporate cards and helping clients manage receipts, but it's been building out tech since 2022 to help client companies book and manage travel. The company's Ramp Travel product allows clients' employees to book travel with inventory from Priceline. The platform also has integrations with TravelPerk, Lyft and Uber for Business. Ramp automatically collects receipts from any bookings with partners, removing the need to submit expenses. Client companies can set travel policies and manage approvals through the platform. Ramp last month released a feature that automatically rebooks a hotel if the price drops. It's one of 270 features that the company has released this year, which the company said were all developed with the help of AI. Ramp said it has more than 40,000 companies, including CBRE, Shopify, Anduril, Notion, Cursor, Vercel, and Barry's. The company said its platform handles $80 billion in purchases annually. Ramp said the funding will go toward improving the AI-powered product and expanding business, particularly in the U.S. Archer Aviation: $850 Million Archer Aviation, which is developing a flying taxi for urban use, has raised $850 million. The funding comes from a direct offering of 85 million shares of stock for $10 per share. The company had previously raised nearly $2 billion, including $430 million last year. California-based Archer is developing an electric vertical takeoff and landing (eVTOL) aircraft called Midnight. It is designed to hold a pilot with four passengers and luggage for urban trips of 20-50 miles at speeds of up to 150 miles per hour. It is powered by six independent battery packs, each supporting a pair of electric engines. The company is also developing aircraft for the U.S. military. Archer said in May that it plans to provide air taxi services for the 2028 Los Angeles Olympics and for Team USA. The company last year unveiled plans for an air taxi network in Los Angeles. The network includes vertiports (eVTOL airports) at Los Angeles International Airport, University of Southern California, Orange County, Santa Monica, Hollywood Burbank, Long Beach, and the Van Nuys neighborhood. The company is also planning to establish a vertiport near the SoFi Stadium, home of the Los Angeles football teams Rams and Chargers. The plan is to begin LA network operations in 2026. This is in addition to plans for a network at California airports where Southwest Airlines operates, along with five vertiports in the Bay Area. Travlounge: $2.9 Million Travlounge, which designs roadside rest stops with sleeping pods, has raised $2.9 million (250 million Indian rupees). The funding comes from Gokulam Group. India-based Travlounge says its facilities include tech-enabled sleeping pods, washrooms, cafes, travel-focused markets, and charging stations for electric vehicles. The company has also released an app for trip planning. The funding will go toward expanding beyond its first two locations in India.
Yahoo
18-06-2025
- Business
- Yahoo
TravelPerk launches new medical and baggage insurance add-on to meet the growing need for complete cover when travelling for work
Nearly half of business travellers (44%) lack an official company travel insurance policy, leaving 24% to rely on personal insurance plans or credit card policies (15%) Business travellers do need the security that insurance provides with 13% of those traveling for work experiencing lost or delayed luggage in 2024, and one in ten (11%) facing personal health or medical emergencies TravelPerk's new travel insurance offering, powered by battleface, is available to its European customer base, providing up to £10M medical and £2K baggage cover, with seamless booking through the platform UK launch follows strong uptake across Europe, placing employee wellbeing front and centre LONDON, June 18, 2025 (GLOBE NEWSWIRE) -- Leading global business travel and expense management platform, TravelPerk, launches new research revealing nearly half (44%) of business travellers have no official company-level travel insurance, with 24% relying on personal policies and 15% on credit card insurance – leaving many exposed to risks. Whilst travel can be unpredictable, with research showing 78% of global business travellers faced travel disruption, employers are missing key areas to support employees on the road. TravelPerk's recent travel disruption survey revealed the types of travel disruption with 13% of travellers experiencing lost or delayed luggage, and 11% having health or medical emergencies. Today's research launch uncovers the importance of insurance to employees, with travel insurance (37%) as the second most important thing their company can do to support work travel, surpassing extra time off at destination (30%) and healthy meals (24%). To match this need, TravelPerk has launched their new medical and baggage insurance product for European business travellers booking return flights - protecting them as they travel across the globe. This new add-on offers a seamless, in-platform insurance experience powered by trusted provider battleface. The UK rollout follows successful launches for TravelPerk customers across Europe and comes at a time when business travel disruption is increasingly common, and company travel insurance coverage remains patchy. With customer needs varying per region, the launch reflects TravelPerk's commitment to building flexible, localised solutions that respond to real needs. UK business travellers lead the way in proactivity around travel protection, with 62% of employees reporting having some form of travel insurance provided by their company, compared to 51% in Germany, according to TravelPerk data. This new add-on complements TravelPerk's wider protection suite – FlexiPerk to cover trip cancellations, 24/7 in-trip customer care, and now comprehensive insurance coverage for unexpected medical issues or lost baggage. Jon Hoar, SVP Product at TravelPerk, said: 'When we surveyed business travellers, nearly 30% had encountered medical issues during work travel that were not covered by their policy and 39% reported being unprotected for lost luggage. This new offering is our solution so they are covered for any eventuality – simple, reliable protection built directly into our platform, ensuring our customers can travel with confidence.' Designed with ease-of-use in mind, users can easily purchase coverage and access full policy documentation via the TravelPerk Platform. Sasha Gainullin, CEO of battleface, commented: 'This partnership ensures that high-quality travel insurance is no longer an afterthought. By embedding our coverage and 24/7 global support directly into TravelPerk's platform, we're delivering seamless, tech-enabled protection that gives travel admins and employers confidence their teams are covered - wherever work takes them.' For more information on TravelPerk's medical and baggage insurance add-on, check out About TravelPerk TravelPerk is a global and expense management platform. Since its founding in 2015, it has been reshaping the way companies manage travel for work, combining cutting-edge technology with a human touch. Trusted by global brands like Red Bull, Fujifilm, and Nord Security, TravelPerk offers a seamless all-in-one platform that simplifies travel booking, streamlines expense management, and boosts productivity for businesses of all sizes. With a commitment to flexibility, cost control, and efficiency, TravelPerk helps businesses save time, reduce costs, and focus on what matters most. Visit for more information. About battleface battleface, Inc. is a full-stack global company enabling customers and partners to easily select travel insurance products and services that perfectly fit their needs. Access to custom built embedded products, relevant benefits and responsive customer service from any device, any time, any place – welcome to a better insurance experience. For more information, please visit: Research methodology TravelPerk commissioned research company OnePoll to conduct a survey between 12 and March 19, 2025. Fieldwork was completed over 5–7 working days and involved 3,000 participants—1,000 each from the UK, Germany, and Spain—who travel for business. The sample was collected through an online quantitative survey to ensure consistency and comparability across markets. For media inquiries, please contact: press@ For the methodology TravelPerk's annual Travel disruption survey go to their website at : beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Business Insider
12-06-2025
- Business
- Business Insider
Summer business travel is still on for many, but it might look different this year
Just because some Americans are scaling back on their summer travel, it doesn't mean their employers are. Business travel demand has remained steady going into the summer season, several travel companies have said. Navan, which works with companies like Lyft, Shopify, and Box, found that summer business travel in 2025 is up by double digits compared to 2024, a representative for the company told Business Insider in May. Navan compared corporate travel bookings for the same group of companies over the same time period in 2024 and 2025 and found flight bookings were up 10% year-over-year, while hotel bookings were up 25%. The group included a mix of professional services, financial services, technology, and manufacturing firms, and ranged in size from small- and medium-sized businesses to public companies. TravelPerk, another travel-management company, found work trip bookings this summer were up 3% compared to last year. The company compared bookings for June, July, and August made by the same group of long-term TravelPerk customers in 2024 and 2025. "The month of June is the busiest month in the first half of the year, a key time for growth, industry events, and meaningful connections," Eugen Triebelhorn, a country manager at TravelPerk, said in an email. "Especially for sales teams, June is a strategic halftime for the year ahead of the quiet vacation period in July and August." Ariel Katen, consumer advocate and director of product at Engine, another corporate travel management platform, to BI last month that the company has found work travelers expect some changes to their trips this year. The company conducted a survey in April that found 71% of businesses expected to be affected in some way by shaky economic conditions, with 29% expecting increased scrutiny of travel expenses. That could mean cutting back on premium flight upgrades or booking more affordable hotels, she said. Engine has also found that a new batch of more affordable cities is becoming popular for corporate travel, including Charlotte, North Carolina, and Nashville, Tennessee. "If you had to get the entire team down somewhere, where are you going to find more affordable hotel rooms? Is that New York City or is that Tampa?" Katen said. Business travel had shown some signs of slowing earlier this year. Airlines Reporting Corp., which tracks agency bookings, reported a 6% decline in April for agencies focused on corporate or government travel. But several travel companies have recently reported an increase or a stabilization of corporate travel demand. Alaska Air Group, which includes Alaska Airlines and Hawaiian Airlines, said in late April that business travel demand had "stabilized" after a slowdown in February and March. "Total forward bookings are up low single digits, improved from where they seem to have bottomed out in March," Andrew Harrison, Alaska's chief commercial officer, said of corporate bookings during the first-quarter earnings call on April 24. Southwest Airlines said on its quarterly earnings call, also on April 24, that corporate travel demand had been "softer, but stable." American Express Global Business Travel, a travel management company, reported an increased demand for business travel on its quarterly earnings call in May, as did Choice Hotels, which includes brands like Radisson and Comfort Inn. The trends in business travel come as leisure travel demand has softened, fueled by economic uncertainty. Several airlines withdrew their outlook for the year, with United, Delta, and Southwest cutting back on routes or capacity, citing weaker demand.
