TravelPerk introduces FlexiPerk - making business travel more flexible than ever before

TravelPerk announces the launch of FlexiPerk, a new product that gives business travelers flexibility to cancel and get a refund on any booking. Currently in beta, FlexiPerk has been trialled by SumUp, Picnic, and other customers, saving an average of 26% for each business.

TravelPerk, Europe’s leading online travel management platform, on Thursday, announced the launch of FlexiPerk, a new product that gives business travellers flexibility to cancel and get a refund on any booking—hotel, trains, Airbnb, cars, and flights including Ryanair and EasyJet—at any time, for any reason. 

Following the completion of TravelPerk’s $104 million Series C announced earlier this month, FlexiPerk is the next major step in TravelPerk’s growth and innovation strategy. It brings a new level of disruption to the pricing structure of an industry that is still dominated by outdated solutions that make business travel unnecessarily expensive and painful for both traveller and company.

Elaborating about the scheme, the spokesperson of Travel Perk informed, "Traditional travel has always been anything but flexible. From complex airline fee structures to unfriendly refund policies, it’s built around travel plans staying the same. A good number of business travellers have experienced this first-hand, and as a result, have also experienced the stress and expense of unpredictable schedules. Changes or cancellations are often unavoidable in a fast-paced business: according to TravelPerk’s own data, more than 20% of business trips are subsequently postponed, rearranged, or cancelled. Historically, businesses that want to make changes to trips have been forced to choose between expensive “Flexi-fares” offered by corporate travel providers (on average 60% more than standard fares), or complex and time-consuming refund processes. FlexiPerk solves that problem by automatically making every booking refundable, at a fraction of the cost. By adding a small fee to your booking upfront customers can avoid flexible fares and last-minute cancellation costs, instead of receiving a guaranteed minimum 90% refund on any cancelled booking,". "There’s no need to read through complex refund policies, or fill out any online forms - with one click, TravelPerk will cancel the booking and process the refund, no questions asked," added the spokesperson. 

FlexiPerk has reportedly been tested by a number of TravelPerk customers, including SumUp and Picnic. These customers have seen significant financial benefits with savings of, on average, 26% compared to the cost of flexible fares and last-minute cancellation fees. 

Matabato Kimani, Head of Operations at London-based SumUp, said, "At SumUp, our team has grown incredibly quickly and we now have 15 offices across 3 continents. This means that our team is travelling more than ever, often long haul flights and at short notice due to changing business needs. Using FlexiPerk has meant that we can focus on continued innovation in the financial space, rather than worrying about the cost of changing our travel plans". 

Avi Meir, CEO and Co-Founder of Travel Perk, said, "We believe that the launch of FlexiPerk is the biggest development in the business travel industry in more than a decade. It marks a change in the status quo of business travel’s pricing structure - and is a key development in our long-term strategy, which is focused on not just playing catch up with the flexibility and convenience of consumer travel - but actually surpassing it. We are delighted with the feedback from early customers and are excited to be bringing FlexiPerk to the wider market as part of our mission to make every stage of business travel as seamless as possible.”

Anyone who has booked a business trip will know the pain and stress that comes when you need to make any kind of change to your booking, and the frustration of having to choose between expensive flexi-fares, or arduous refund processes. FlexiPerk simplifies this by making everything refundable. It gives travellers ultimate freedom and flexibility, and takes the risk and hassle out of companies’ business travel program.

(With inputs by Courtney Dean from Spain)