Lanes & Planes, a Software as a Service provider, bagged $35 million in a Series B funding round recently. This Germany-based company specialises in B2B corporate travel solutions in Europe. The newly acquired funds are earmarked for the company’s ambitious expansion plan. The funding round was spearheaded by US-based investor, Smash Capital.
About Lanes & Planes
Lanes & Planes adopts an “all-in-one approach” for handling booking, approval, and expense management. Their digital platform integrates well with existing company systems. They also offer a 24/7 in-house support team for seamless operations. Co-founders Veit Blumschein and Daniel Nolte are ecstatic about the funding. They believe it propels them to scale swiftly and efficiently in the European corporate travel market.
Strategic partnership
Veit Blumschein, Lanes & Planes co-founder, shared his excitement on having Smash Capital as a partner. He underlined Smash Capital’s strong track record in backing tech market leaders. Their growth-centric approach aligns well with the vision for Lanes & Planes, he added. This partnership is deemed a significant step for scaling their operations in Europe.
Addressing market inefficiencies
Brad Twohig, Managing Partner at Smash Capital, reflected on the expected surge in business travel spending by 2024. At the same time, he noted the existing inefficiencies in managing and booking business travel. Lanes & Planes, he believes, is addressing these issues with its model. Their platform simplifies the booking and managing process, making business travel less tedious.
Twohig expressed that investing in Lanes & Planes was a no-brainer. The firm stands firmly behind the company as it expands its footprint in Europe. Through this investment, Twohig anticipates a notable transformation in the business travel sector, as Lanes & Planes streamlines operations and enhances customer experience.
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