Brazilian journey tech firm Onfly raises $16M
Onfly, a Brazilian journey expertise firm that gives an end-to-end company journey and expense administration software program platform, closed a $16 million Collection A spherical led by Left Lane Capital and Cloud9 Capital.
By combining business partnerships with a custom-built journey search engine, the corporate helps all purchasers’ journey wants on a single platform – together with reserving flights and motels to worker expense reimbursement and company playing cards. Onfly, a PhocusWire Hot 25 Startup for 2022, has 200 staff and plans to proceed constructing expertise to additional facilitate and digitize company journey in Brazil and throughout Latin America.
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“When our purchasers use Onfly, they’re provided full visibility with assurance that journey assets are being allotted in the most effective method,” stated co-founder and CEO Marcelo Linhares. “Our product affords full compliance and traceability of all bills and several other back-office controls. For workers, we ship the most effective expertise, enabling them to make reservations with a fast and streamlined reserving course of. For monetary managers, we offer real-time visibility of all these bills, eliminating spreadsheets, countless electronic mail exchanges and cellphone calls with journey businesses.”
Funds from the spherical might be used to additional scale the gross sales, advertising and expertise departments. A part of the funding can even be directed in direction of launching new merchandise and exploring acquisitions. Each Left Lane and Cloud9 will be a part of the corporate’s board of administrators.
“Left Lane is happy to assist Onfly in constructing the most important company journey and expense administration software program enterprise in Latin America,” stated Matthew Miller, principal at Left Lane Capital. “Brazil represents one of many prime 10 largest company journey markets globally, nonetheless this business has been traditionally dominated by legacy journey businesses that do not leverage expertise options.”
