What does Onfly do?
Onfly is a travel technology company that digitizes and streamlines corporate travel and expense management for over 2,000 companies, providing a comprehensive platform offering flights, hotels, buses, rental cars, and an integrated corporate card solution.
How much did they raise?
The company raised $40M in Series B funding, led by Tidemark with participation from Endeavor Catalyst and Left Lane Capital, marking a significant milestone in its growth trajectory.
What are their plans for the money?
Onfly plans to use the new capital to accelerate its technology development with a strong focus on AI integration, expand its marketing and sales efforts, and boost its international growth. The company is also targeting an expansion into Mexico, aiming to onboard 2,500 clients by 2027 to tap into Latin America's corporate travel market.
What have they achieved so far?
Having achieved a CAGR of 110% over the past four years, Onfly's integrated travel and expense management solution has already processed approximately $35M in Total Payment Volume through its corporate card launched in 2022, positioning the company for further growth with a projected $250M in GMV by 2025.