Onfly's Bold Leap: A $40 Million Investment to Transform Corporate Travel in Latin America
April 17, 2025, 4:32 pm
Location: United States, California, Redwood City
Employees: 51-200
Founded date: 2010
Total raised: $81M
Location: Netherlands, North Holland, Amsterdam
Employees: 5001-10000
Founded date: 2011
Total raised: $130M
In the bustling world of corporate travel, Onfly is making waves. The Brazilian travel tech company recently secured $40 million in Series B funding, a significant boost that promises to reshape the landscape of business travel in Latin America. This investment, led by Tidemark, marks a pivotal moment for Onfly, which aims to expand its reach and enhance its technology.
Founded in 2018, Onfly has quickly established itself as a key player in the B2B travel tech sector. With a focus on digitizing and streamlining corporate travel and expense management, the company serves over 2,000 clients, including notable names like Vivara and PicPay. The platform offers a comprehensive suite of travel options, from flights to rental cars, all designed to simplify the often cumbersome process of corporate travel.
The recent funding round will fuel Onfly's ambitions. The company plans to invest heavily in technology, particularly in artificial intelligence. This move is not just about keeping up with trends; it’s about setting the pace in an industry that has long been dominated by outdated systems. The integration of AI will enhance user experience, automate processes, and ultimately drive efficiency.
Onfly's growth trajectory is impressive. The company has achieved a staggering compound annual growth rate (CAGR) of 110% over the past four years. With projections to reach $250 million in Gross Merchandise Volume (GMV) by 2025, Onfly is not just aiming for growth; it’s aiming for dominance in the corporate travel market. The company’s digital-first approach is a breath of fresh air in an industry often bogged down by legacy systems.
The funding will also support Onfly's expansion into Mexico, Latin America’s second-largest corporate travel market. By 2027, the company aims to onboard 2,500 clients in this new territory. This strategic move is a testament to Onfly's vision of becoming a regional powerhouse in corporate travel management. The Mexican market is ripe for disruption, and Onfly is poised to seize the opportunity.
Onfly's integrated travel and expense management solution is already a hit among its clients. Approximately 65% of users have adopted the corporate card launched in 2022, which has processed around $35 million in total payment volume. This indicates a strong demand for streamlined solutions that cater to the needs of modern businesses. The card not only simplifies transactions but also provides valuable insights into spending patterns, making it an essential tool for financial management.
The corporate travel sector in Latin America is undergoing a significant transformation. In 2023, the market generated nearly $50 billion, according to the Global Business Travel Association (GBTA). This growth presents a massive opportunity for companies like Onfly, which are ready to innovate and lead the charge toward digitalization. As businesses increasingly seek efficiency and cost-effectiveness, the demand for tech-driven solutions will only grow.
Onfly's CEO, Marcelo Linhares, emphasizes the importance of this investment. It represents a new chapter for the company, one that aligns with the broader trend of digital transformation in the region. Many players in the corporate travel space are entrenched in traditional models, often lacking the technological adoption necessary to meet modern demands. Onfly's approach is a stark contrast, focusing on user experience and ease of use—qualities that today’s corporate travelers expect.
As the company looks to the future, it has ambitious plans. By 2026, Onfly anticipates that up to 60% of interactions with corporate travelers could be automated. This vision hinges on a doubling of investment in AI over the next two years. Automation will not only enhance efficiency but also free up resources for companies to focus on strategic initiatives rather than mundane tasks.
The backing from Tidemark is significant. This investment marks Tidemark's first venture into Brazil and Latin America, signaling confidence in Onfly's business model. Tidemark’s experience with global giants like Nubank and LinkedIn adds credibility to Onfly’s potential. The venture capital firm recognizes the growing startup ecosystem in Latin America, where entrepreneurs are innovating and addressing local market needs with global insights.
In conclusion, Onfly is not just another travel tech startup; it’s a harbinger of change in the corporate travel landscape. With a fresh infusion of capital, a commitment to technology, and a clear vision for expansion, Onfly is set to redefine how businesses manage travel and expenses. The road ahead is promising, and as the company navigates this journey, it will undoubtedly inspire others in the region to embrace innovation and transformation. The future of corporate travel in Latin America is bright, and Onfly is leading the charge.
Founded in 2018, Onfly has quickly established itself as a key player in the B2B travel tech sector. With a focus on digitizing and streamlining corporate travel and expense management, the company serves over 2,000 clients, including notable names like Vivara and PicPay. The platform offers a comprehensive suite of travel options, from flights to rental cars, all designed to simplify the often cumbersome process of corporate travel.
The recent funding round will fuel Onfly's ambitions. The company plans to invest heavily in technology, particularly in artificial intelligence. This move is not just about keeping up with trends; it’s about setting the pace in an industry that has long been dominated by outdated systems. The integration of AI will enhance user experience, automate processes, and ultimately drive efficiency.
Onfly's growth trajectory is impressive. The company has achieved a staggering compound annual growth rate (CAGR) of 110% over the past four years. With projections to reach $250 million in Gross Merchandise Volume (GMV) by 2025, Onfly is not just aiming for growth; it’s aiming for dominance in the corporate travel market. The company’s digital-first approach is a breath of fresh air in an industry often bogged down by legacy systems.
The funding will also support Onfly's expansion into Mexico, Latin America’s second-largest corporate travel market. By 2027, the company aims to onboard 2,500 clients in this new territory. This strategic move is a testament to Onfly's vision of becoming a regional powerhouse in corporate travel management. The Mexican market is ripe for disruption, and Onfly is poised to seize the opportunity.
Onfly's integrated travel and expense management solution is already a hit among its clients. Approximately 65% of users have adopted the corporate card launched in 2022, which has processed around $35 million in total payment volume. This indicates a strong demand for streamlined solutions that cater to the needs of modern businesses. The card not only simplifies transactions but also provides valuable insights into spending patterns, making it an essential tool for financial management.
The corporate travel sector in Latin America is undergoing a significant transformation. In 2023, the market generated nearly $50 billion, according to the Global Business Travel Association (GBTA). This growth presents a massive opportunity for companies like Onfly, which are ready to innovate and lead the charge toward digitalization. As businesses increasingly seek efficiency and cost-effectiveness, the demand for tech-driven solutions will only grow.
Onfly's CEO, Marcelo Linhares, emphasizes the importance of this investment. It represents a new chapter for the company, one that aligns with the broader trend of digital transformation in the region. Many players in the corporate travel space are entrenched in traditional models, often lacking the technological adoption necessary to meet modern demands. Onfly's approach is a stark contrast, focusing on user experience and ease of use—qualities that today’s corporate travelers expect.
As the company looks to the future, it has ambitious plans. By 2026, Onfly anticipates that up to 60% of interactions with corporate travelers could be automated. This vision hinges on a doubling of investment in AI over the next two years. Automation will not only enhance efficiency but also free up resources for companies to focus on strategic initiatives rather than mundane tasks.
The backing from Tidemark is significant. This investment marks Tidemark's first venture into Brazil and Latin America, signaling confidence in Onfly's business model. Tidemark’s experience with global giants like Nubank and LinkedIn adds credibility to Onfly’s potential. The venture capital firm recognizes the growing startup ecosystem in Latin America, where entrepreneurs are innovating and addressing local market needs with global insights.
In conclusion, Onfly is not just another travel tech startup; it’s a harbinger of change in the corporate travel landscape. With a fresh infusion of capital, a commitment to technology, and a clear vision for expansion, Onfly is set to redefine how businesses manage travel and expenses. The road ahead is promising, and as the company navigates this journey, it will undoubtedly inspire others in the region to embrace innovation and transformation. The future of corporate travel in Latin America is bright, and Onfly is leading the charge.