Onfly, a São Paulo, Brazil-based B2B travel tech company, has raised $40 million in Series B funding.
Investors
The round was led by Tidemark, with participation from Endeavor Catalyst and Left Lane Capital, among others.
Tidemark is a growth equity firm purpose-built to help companies win and scale. It is powered by a community of investors, entrepreneurs, and operators energized by ideas, a love of competition, and a drive to give back. Tidemark donates 10% of its profits to its foundation, Tidemark10, to support the communities it serves.
Drew Patterson, Venture Partner at Tidemark, joined Onfly’s board as part of the Series B round.
Onfly Use of Funds
The company will use the funds to enhance its AI-powered platform, expand its marketing and sales operations, and continue international growth, including expansion into Mexico. The company aims to onboard 2,500 new clients in Mexico by 2027.
About Onfly
Founded in 2018, Onfly offers a fully integrated platform for corporate travel and expense management. Its platform provides real-time booking, expense tracking, ERP integration, and a corporate card solution — all designed to improve efficiency, reduce costs, and streamline operations. Onfly helps businesses of all sizes manage their travel processes through proprietary technology that enhances cost control and spending transparency — from a coffee at the airport to flights, hotels, rental cars, and buses. Headquartered in São Paulo, Brazil, Onfly serves over 2,000 companies.
Funding Details
Company: Onfly SP
Raised: $40.0M
Round: Series B
Funding Date: April 2025
Lead Investor: Tidemark
Additional Investors: Endeavor Catalyst, Left Lane Capital
Company Website: https://www.onfly.com.br/
Software Category: Travel and Expense Management
Source: https://www.prnewswire.com/news-releases/onfly-raises-40m-series-b-to-digitize-corporate-travel-across-latin-america-302428892.html