A Spanish giant is about to make history by going public in the United States: TravelPerk

Spanish travel and expense management startup TravelPerk is preparing for an initial public offering (IPO) in the United States, marking a significant milestone for European tech companies. The move, facilitated by investment banks Morgan Stanley, Goldman Sachs, and Jefferies, could become the most relevant Spanish IPO in recent years, and a test of Wall Street's interest in European startups. TravelPerk, based in Catalonia, manages corporate travel and expenses. The company was last valued at $2.7 billion in January 2025, double its valuation from a year prior. With over 1,500 employees, the company's revenue has increased fivefold since before the pandemic, led by CEO Avi Meir. The IPO is a pivotal moment for European tech, with the company backed by investors like SoftBank Vision Fund, Sequoia Capital, and Blackstone. The success of the IPO will be a measure of the confidence in European tech. TravelPerk will need to demonstrate sustainable growth in a competitive market against established US players. The timing appears favorable, as the corporate travel market has rebounded after the pandemic, reaching $1.5 trillion globally in 2024, up 6% from pre-COVID levels. However, European tech IPOs in the US have had mixed results, highlighting the challenges of the American market.