Lanes & Planes secures $35 million in Series B funding

Lanes & Planes secures $35 million in Series B funding led by Smash Capital to drive its growth in the corporate travel industry. The European software company provides digital solutions for business travel management.

Munich, Germany - October 16, 2023 - Lanes & Planes, an established software-as-a-service (SaaS) provider for business travel in Europe, today announced a $35 million Series B investment. The funding round is led by U.S. investor Smash Capital, which has also invested in companies such as Epic Games and Reddit. Additionally, existing investors Battery Ventures, coparion, DN Capital and AllIron are participating in this round. The capital will be used to continue Lanes & Planes' growth and support their expansion efforts.

We have developed a compelling product that has resulted in strong customer retention. Now we are in an excellent position to scale quickly and efficiently in the European business travel market.

Daniel Nolte, Co-Founder of Lanes & Planes

Lanes & Planes provides a digital platform that helps companies with travel booking, approvals and expense management, and integrates with existing enterprise systems. The company has an internal support team in Germany that is available 24/7 for inquiries and assistance.

We are very pleased to have Smash Capital on board as a strategic partner. The company's strong track record supporting leading companies in the tech market, as well as its growth-oriented mentality, aligns perfectly with our vision for Lanes & Planes.

Veit Blumschein, Co-Founder of Lanes & Planes

In 2022, Lanes & Planes experienced revenue growth that strengthened its position in the European business travel industry. With the Series B funding, the company plans to expand its reach and offer solutions tailored to the needs of business travelers.

Business travel spend will reach pre-pandemic levels in 2024, but business travel management and booking remains largely dysfunctional and inefficient

Brad Twohig, Managing Partner at Smash Capital

Lanes & Planes is a leading provider of SaaS solutions for corporate travel. The company specializes in helping companies manage their business travel with a focus on efficiency and user experience.

This Series B financing will enable Lanes & Planes to further expand its services and serve the growing needs in the corporate travel industry, without overspending.