Travel Management Platform Onfly Announces $15.5M Series A
Gunderson Dettmer represented Brazil-based client Onfly, a travel and expense management platform, in its BRL 80M (approximately USD 15.5M) Series A financing led by Left Lane and Cloud9 Capital. The company's application aids in booking hotels, tickets, and renting cars within a pre-configured travel policy, enabling companies to maximize travel management and bring comfort and productivity to employees. The new capital will be used to continue growing its platform.
In the announcement of the transaction, Onfly co-founder Marcelo Linhares said, “In 2014 we spent BRL 10,000 per month on corporate travel. In 2018, that amount had risen to R$110,000. And in those four years we had all possible problems: from a secretary who rented a car for her and put her travel expenses in the pie, to reimbursement fraud. When we understood that the biggest problem was that the processes were very bad, we decided to create Onfly.”
The Gunderson Dettmer deal team was led by Christel Moreno and included Carolina Zanolo, Eduarda Tavares and Tina Xu.