Lanes & Planes lands $35M in Series B funding

Software as a Service provider Lanes & Planes has landed $35 million in a Series B funding round.

The Germany-based company, which specializes in B2B corporate travel solutions in Europe, said the investment will go toward Lanes & Planes’ expansion plan. The funding round was led by Smash Capital, an investor based in the United States.

Veit Blumschein, Lanes & Planes co-founder, said the company is thrilled to have Smash Capital as a strategic partner.

“The firm’s strong track record backing tech market leaders as well as its laser-focused growth mindset aligns perfectly with our vision for Lanes & Planes,” Blumschein said.

Lanes & Planes takes an “all-in-one approach” to handle booking, approval and expense management on one digital platform that can be integrated into company systems. The company also offers a 24/7 in-house support team. 

“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,” said Daniel Nolte, co-founder of Lanes & Planes.

Smash Capital managing partner Brad Twohig said spending is expected to top pre-pandemic levels next year but the management and booking of business travel is “largely dysfunctional” and can be less than efficient. He believes Lanes & Planes is on to something with its model.

“The team at Lanes & Planes has built an experience that focuses on making life easier for the customer, with a seamless, transparent and thoughtful way to book and manage business travel," Twohig said. "Investing in Lanes & Planes was a no-brainer for us, and we are excited to partner with them as they expand.”