Lanes & Planes specializes in B2B solutions for business travel in Europe. With an all-in-one approach, the startup handles travel bookings, approvals, and expense management on a digital platform that enables integrations with all existing enterprise systems.
The company has now announced a Series B investment of €33 million (US$35 million) 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 drive growth and expansion efforts for Lanes & Planes.
According to the company, the startup 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 constantly receive feedback, particularly 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 burdensome administration. We have developed a compelling product that has led to strong customer loyalty. Now we are 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 reach pre-pandemic levels in 2024, but 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 thoughtful way to book and manage business travel. Investing in Lanes & Planes was a no-brainer for us, and we look forward to supporting the company as it expands.”
