Onfly Raises $40 Million to Expand Business Travel Tech in Latin America: Exclusive

This is the second business travel startup in the last three weeks that has raised money to expand in Latin America. There's a big market to modernize.

Onfly, a corporate travel and expense management platform in Latin America, has raised a series B round of $40 million to support fast growth.

Using the Onfly platform, employees of client companies can book and manage flights, hotels, buses, rental cars, and short-term rentals, as well as manage expenses. The company also offers prepaid corporate cards that clients can issue to employees.

Marcelo Linhares, CEO and co-founder of Onfly, says there’s a lot of opportunity for this type of tech in Latin America because the incumbent business travel agencies are largely offline. And as Europe and the U.S. have made big strides toward digitization of corporate travel, Latin America is a lot farther behind.