Series B for Lanes & Planes for USD 35 million led by Smash Capital

Berlin / Munich — Travel soft­ware company Lanes & Planes announ­ces €33 million ($35 million) Series B finan­cing to fuel growth. The round was led by US venture capi­tal fund Smash Capi­tal. Exis­ting inves­tors Battery Ventures, Copa­rion, DN Capi­tal and AllI­ron also parti­ci­pa­ted in the round. The invest­ment is expec­ted to support Lanes & Planes’ growth and expan­sion efforts.

Accor­ding to its own data, the startup has increased its reve­nue by more than nine times since the begin­ning of 2022. With the Series B finan­cing, the company aims to increase its reach as well as expand inno­va­tive solu­ti­ons tail­o­red to the needs of busi­ness travelers.

Lanes & Planes is one of the first travel manage­ment solu­ti­ons as soft­­ware-as-a-service that fully digi­tally maps all areas of busi­ness travel, an all-in-one solu­tion for busi­ness travel. The start-up was foun­ded in 2017 by Dr. Veit Blum­schein and Daniel Nolte and is based in Munich. The tool provi­des a compre­hen­sive soft­ware solu­tion for compa­nies to effi­ci­ently manage travel services, bookings, billing and expense reports. Orga­niza­ti­ons bene­fit from compre­hen­sive report­ing capa­bi­li­ties and secure rights manage­ment accor­ding to their poli­cies, while still saving up to 33% on costs.

The freshly raised capi­tal is to be used to inten­sify the Euro­pean growth stra­tegy and to expand the team in terms of personnel.

Consul­tant Lanes & Planes: YPOG

Dr. Benja­min Ullrich (Co-Lead, Tran­sac­tions), Part­ner, Berlin Tobias Lovett (Co-Lead, Tran­sac­tions), Senior Asso­ciate, Berlin Farina Weber (Tran­sac­tions), Asso­ciate, Berlin

About Battery Ventures

Battery part­ners with excep­tio­nal foun­ders and manage­ment teams deve­lo­ping ground­brea­king compa­nies in soft­ware and services, enter­prise infra­struc­ture, consu­mer tech­no­logy, health­care IT, indus­trial tech­no­logy, and life science instru­men­ta­tion. Foun­ded in 1983, the company supports compa­nies at all stages, from seed and early stage to growth and buyout, and invests globally from offices in Boston, San Fran­cisco, Menlo Park, New York, London and Tel Aviv.

About copa­rion

copa­rion is a venture capi­tal fund for early growth stage start­ups focu­sed on SaaS and tech­­no­­logy-enab­­led market­place models. The fund supports them in growing quickly and sustain­ably over seve­ral rounds of finan­cing. Toge­ther with other inves­tors, copa­rion invests in the compa­nies. The fund does not take the lead, but plays an active role as a share­hol­der or advi­sory board to support the compa­nies. copa­rion has inves­ted in leading start-ups such as Clark, Grover, Holidu and Plan A.