Lanes & Planes secures $35 million in Series B funding

Lanes & Planes secures $35 million in Series B funding led by Smash Capital to fuel its growth in the corporate travel industry. The European software company offers 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 US investor Smash Capital, which has also invested in companies such as Epic Games and Reddit. Existing investors Battery Ventures, coparion, DN Capital and AllIron are also participating in this round. The capital will be used to further drive Lanes & Planes' growth and support its expansion efforts.

We have developed a compelling product that has resulted in strong customer loyalty. 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 offers a digital platform that supports companies with travel bookings, approvals and expense management and can be integrated into existing corporate systems. The company has an internal support team in Germany that is available around the clock for inquiries and support.

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

Veit Blumschein, co-founder of Lanes & Planes

In 2022, Lanes & Planes recorded 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 business travel. The company specializes in helping companies manage their business travel with a focus on efficiency and ease of use.

This Series B financing will allow Lanes & Planes to further expand its services and meet the growing needs of the corporate travel industry without going overboard.