Onfly, a São Paulo, Brazil-based travel technology company that provides an end-to-end corporate travel and expense management software platform, raised $16M in Series A funding.
The round was led by Left Lane Capital and Cloud9 Capital.
The company intends to use the funds 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.
Founded in September 2018 by Marcelo Linhares, Elvimar Soares and Elvis Soares, Onfly provides a technology-driven travel and expense management platform that initially focused on simplify the booking process and workflow approvals within companies, but has expanded its product offering to automate the entire process of expense reporting for travel, including advances, receipt scanning, reimbursements, and comprehensive reports and analytics. Additionally, it offers a prepaid corporate card to employees, eliminating the need for issuing advances and requesting reimbursements altogether.
Onfly currently has almost 1,000 customers of various sizes, ranging from small businesses with 50 employees to enterprise clients with 10,000+ employees. The company currently has 200 employees and plans to continue building technology to further facilitate and digitize corporate travel in Brazil and across Latin America.
FinSMEs
07/06/2023