Software as a Service provider Lanes & Planes has secured $35 million in a Series B funding round.
The Germany-based company, which specialises in B2B corporate travel solutions in Europe, said the investment will fund expansion plans and “further enhance its innovative solutions”.
The funding round was led by US-based Smash Capital, while existing investors Battery Ventures, coparion, DN Capital and AllIron also participated in the round.
Commenting on the funding round, Lanes & Planes co-founder Daniel Nolte said: “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.”
“Investing in Lanes & Planes was a no brainer for us, and we are excited to partner with them as they expand,” said Brad Twohig, managing partner at Smash Capital.
“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,” he added.
Lanes & Planes, which ranked as the 16th largest TMC in Germany in BTN Europe’s Leading TMCs 2023 report, offers an “all-in-one” platform for travel bookings, approval and expense management which can be integrated “into all existing company systems”. The company also offers a 24/7 in-house support team based in Germany.