Lanes & Planes specializes in B2B solutions for business travel in Europe. With an all-in-one approach, the startup to manage travel bookings, approvals and expense management in one digital platform, which enables integration into all existing corporate systems.
The company has now announced a €33 million ($35 million) Series B investment led by US investor Smash Capital. Existing investors Battery Ventures, Coparion, DN Capital, and AllIron also participated in the round. The investment is intended to support Lanes & Planes' growth and expansion efforts.
According to the startup, it has increased its revenue more than ninefold since the beginning of 2022. With the Series B financing, the company aims to expand its reach and develop innovative solutions tailored to the needs of business travelers. Daniel Nolte, co-founder of Lanes & Planes, says:
"We continually receive feedback, especially from our new customers, that Lanes & Planes has made them more efficient—both in terms of costs and the time they save through simplified and less tedious administration. We've built a compelling product that has led to strong customer loyalty. Now we're in an excellent position to scale quickly and efficiently in the European business travel market."
Brad Twohig, Managing Partner at Smash Capital, comments:
"Business travel spending will return to pre-pandemic levels in 2024, yet managing and booking business travel remains largely dysfunctional and inefficient. The Lanes & Planes team has developed a solution that makes life easier for customers: a seamless, transparent, and well-thought-out way to book and manage business travel. Investing in Lanes & Planes was a natural fit for us, and we look forward to supporting the company in its expansion."
