Munich, Germany-based leading SaaS provider specializing in B2B solutions for corporate travel in Europe, Lanes & Planes raised EUR 33.2 million in Series B. The round took place on October 16, 2023. USA-based investor Smash Capital led the financing for the company. Existing investors such as Battery Ventures, coparion, DN Capital and All Iron also participated in the round.
Purpose of financing for Lanes & Planes
With the latest financing, Lanes & Planes seeks to further accelerate the company’s growth and expansion efforts during a time of rapidly increasing business travel. It also has plans to expand its reach and further enhance its innovative solutions customized for corporate travel needs.
What the company’s official has to add
Daniel Nolte, co-founder of Lanes & Planes, said, “We constantly get feedback. Especially from our new customers, on how Lanes & Planes has made them more efficient, in terms of money saved, but also in the time they save from making internal administrative tasks less painful and smoother. We have built a compelling product that has resulted in incredible customer loyalty, and now, we are in an excellent position to scale rapidly and efficiently in the European corporate travel market.”
In addition, Veit Blumschein, co-founder of Lanes & Planes with Daniel Nolte, said, “We are thrilled to have Smash Capital on board as a strategic partner. The firm’s strong track record backing tech-market leaders, as well as its laser-focused growth mindset, aligns perfectly with our vision for Lanes & Planes.”
What the investors have to comment
Brad Twohig, Managing Partner at Smash Capital, said, “Spending on business travel will top pre-pandemic levels in 2024, but the actual management and booking of business travel continues to be largely dysfunctional and inefficient. The team at Lanes & Planes has built an experience that focuses on making life easier for the customer with a seamless, transparent, and thoughtful way to book and manage business travel. Investing in Lanes & Planes was a no-brainer for us, and we are excited to partner with them as they expand.”
About Lanes & Planes
Veit Blumschein and Daniel Nolte launched the company in 2017. The company focuses on an all-in-one approach. It handles travel booking, approvals, and expense management in an easy-to-use digital platform. The platform provides integrations into all existing company systems. In addition, the company features a Germany-based, in-house support team with 24/7 availability for any user questions, issues or emergencies. It witnessed strong revenue growth of more than nine times since the beginning of 2022.
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