Munich-based corporate travel and expense platform Lanes & Planes announced $35 million in a recent funding round, which it will use for growth and expansion.
The company, which is the 16th largest TMC in Germany per BTN Europe’s Leading TMCs 2023 report, manages travel booking, approval and expense management on a digital platform that companies can integrate into their existing systems, according to the company. It also has a Germany-based in-house support team that offers around-the-clock service.
The company claims its revenue has grown ninefold since the beginning of 2022. “We have built a compelling product that has resulted in incredible customer loyalty, and now, we are in an excellent position to scale rapidly and efficiently in the European corporate travel market,” Lanes & Planes cofounder Daniel Nolte said in a statement.
U.S.-based Smash Capital led the funding round, and existing investors also participated, including Battery Ventures, Coparion, DN Capital and AllIron.
