Onfly, a Brazilian travel technology company that provides an end-to-end corporate travel and expense management software platform, closed a $16 million Series A round led by Left Lane Capital and Cloud9 Capital.
By combining industry partnerships with a custom-built travel search engine, the company supports all clients’ travel needs on a single platform – including booking flights and hotels to employee expense reimbursement and corporate cards. Onfly, a PhocusWire Hot 25 Startup for 2022, has 200 employees and plans to continue building technology to further facilitate and digitize corporate travel in Brazil and across Latin America.
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“When our clients use Onfly, they’re offered complete visibility with assurance that travel resources are being allocated in the best manner,” said co-founder and CEO Marcelo Linhares. “Our product offers full compliance and traceability of all expenses and several back-office controls. For employees, we deliver the best experience, enabling them to make reservations with a quick and streamlined booking process. For financial managers, we provide real-time visibility of all these expenses, eliminating spreadsheets, endless email exchanges and phone calls with travel agencies.”
Funds from the round will be used to further scale the sales, marketing and technology departments. Part of the investment will also be directed towards launching new products and exploring acquisitions. Both Left Lane and Cloud9 will join the company’s board of directors.
“Left Lane is excited to support Onfly in building the largest corporate travel and expense management software business in Latin America,” said Matthew Miller, principal at Left Lane Capital. “Brazil represents one of the top 10 largest corporate travel markets globally, however this industry has been historically dominated by legacy travel agencies that don’t leverage technology solutions.”