Barcelona-based corporate travel platform TravelPerk has unveiled a major rebrand, adopting the new name Perk to reflect its evolution beyond travel management. The move marks a new chapter in the company’s growth, driven by its ambition to eliminate what it calls “shadow work” – the invisible, non-core tasks that drain employee time and productivity.
According to new research commissioned from Forrester Consulting, such tasks – from filing expenses to chasing approvals – cost businesses around $1.7 trillion annually in lost productivity.
The study, based on feedback from more than 700 business decision-makers and 8,000 employees across six major economies, found that employees spend an average of seven hours a week on these repetitive administrative duties. Perk’s CEO and co-founder Avi Meir said the results highlight an urgent need for smarter automation.
“More than a decade ago, we started by removing the friction from traveling for work,” Meir explained. “Over time, we realized those small, frustrating tasks weren’t just hiding in travel – they were everywhere. Perk gives companies the tools to make work simpler and give people their time back.”
Expanding Beyond Travel Through AI Innovation
Perk’s transformation centers on its AI-native spend management platform, which automates expense filing, invoice coding, and approvals. A key part of this system is Perk Pay, a new feature that enables companies to issue physical payment cards, centralizing oversight of employee spending while reducing fraud risk and streamlining expense reconciliation.
The rebrand also reflects Perk’s global ambitions. The company is establishing dual headquarters in London and Boston, expanding from its Barcelona roots to strengthen its U.S. and European operations. The move follows a string of high-profile acquisitions, including Chicago-based AmTrav and Swiss expense management firm Yokoy, both integrated to build a unified travel and expense ecosystem.
Over the past 18 months, Perk has secured $200 million in new funding, bringing its total valuation to one of the highest among travel management companies. With more than 1,800 employees across 12 offices worldwide, it currently ranks among Europe’s top travel management firms, with a strong presence in the U.K., Germany, and the U.S.
The company’s mission now extends well beyond travel booking. By leveraging artificial intelligence, Perk aims to automate the repetitive, manual tasks that slow down workflows in finance, operations, and HR departments. The company describes its new identity as a symbol of simplification – merging technology, travel, and financial management into one cohesive platform.
As Meir noted, “We’re not just about travel anymore. We’re about giving people their time back – wherever they lose it.” With its rebrand, Perk is positioning itself at the intersection of productivity and technology, redefining how companies approach both travel and everyday administrative work in the AI era.
