Travel management company TravelPerk has rebranded its operations under the shortened name of Perk as it looks to "accelerate" growth.
TravelPerk said that the rebrand to Perk “marks the next step in the company’s transformation”, which also sees it establish dual headquarters in London and Boston to support its next “phase of growth”.
Over the past 18 months, Perk has acquired Chicago-based TMC AmTrav and spend management specialist Yokoy, as well as securing another $200 million in funding from investors. It was also named in BTN Europe’s The Hotlist 2025 at the start of this year.
The company, which was founded in Barcelona in 2015, was ranked as the sixth largest TMC in Europe in 2025, as well as occupying top 10 positions in both Germany and the UK. It currently has a global footprint of more than 1,800 staff across 12 offices.
The acquisition of Yokoy in January has allowed Perk to create an integrated travel and expense management platform for its clients.
The company said it now had a “broader mission to eliminate the hidden, time-wasting tasks that drain productivity - from booking trips and filing expenses, to coding invoices and chasing approvals”. The TMC dubs these non-core tasks as “shadow work”.
Perk added that it had created an “AI-native module” to automate these tasks. This includes Perk Pay which allows clients to issue physical cards that centralises the oversight of spending, reduces fraud risk and automates expense reconciliation.
At the same time as announcing its name change, Perk released new research showing the estimated cost of employees having to carry out these shadow work tasks.
The report - based on a survey of 721 decision-makers in finance, operations, HR and IT, and 8,000 employees in six countries (US, UK, France, Germany, Spain and the Netherlands) - found that an estimated $1.7 trillion is lost per year due to lost productivity from time spent doing these kinds of tasks. This lost time has been calculated at an average of seven hours per employee per week.
Avi Meir, Perk’s CEO and co-founder, said: “How can a 1,000-person company afford to lose around 7,000 hours to shadow work every week? Perk gives companies the fuel they need to make work simpler and give people their time back.”