Onfly, a Brazil-based travel tech firm, has raised $40 million in Series B funding—a milestone for the company and the broader transformation of corporate travel in Latin America. The round, announced on April 15, 2025, was led by Tidemark, with participation from Endeavor Catalyst and Left Lane Capital.
But this story isn’t just about capital. It’s about timing, market design, and unraveling a legacy-heavy industry long overdue for digital reinvention.
A Digital-First Infrastructure Play, Not Just a Travel Tool
Founded in 2018, Onfly has grown into one of Brazil’s top five corporate travel management platforms, serving over 2,000 clients, including Vivara, PicPay, Hotmart, and Vtex. Its core offering—an end-to-end platform for booking, managing, and expensing business travel—is designed to replace the fragmented, offline workflows still common across LATAM.
Now, with this $40 million injection, Onfly is scaling from a software provider into a full-stack infrastructure for business travel digitization, targeting:
- Artificial intelligence integration for fraud detection, reporting automation, and smarter customer service
- Geographic expansion into Mexico, Colombia, Argentina, and Chile, with a goal of 2,500 clients in Mexico alone by 2027
- Product verticals, including corporate short-term rentals, are aiming to onboard 5,000 units in São Paulo by year-end
This isn’t a feature update. It’s a regional expansion strategy layered over an AI-powered operating system.
Why This Matters: The State of Corporate Travel in LATAM
The Latin American business travel sector, valued at nearly $50 billion, remains under-digitized. Most corporate bookings run through traditional agencies, spreadsheets, and manual reconciliation, which results in inefficiency, opaque pricing, and slow turnaround.
Onfly is capturing this whitespace by building a platform that’s:
- Localized, with inventory in buses, domestic airlines, and flexible payment models
- Digitally native, enabling real-time policy enforcement and booking visibility
- Fully integrated, thanks to its corporate card (used by 65% of clients) and automated expense engine
With 110% CAGR over four years and $250 million in projected GMV for 2025, the company resonates with mid-market and large enterprises looking for cost control and accountability at scale.
Strategic Leadership: Talent and Timing
Joining Onfly’s board is Drew Patterson, former VP of Marketing at Kayak and CEO of Jetsetter. His appointment signals a tightening focus on scaling products and brands for international relevance. Combined with the hiring plan to grow from 550 to 700 employees by the end of 2025 (including 150+ engineers), Onfly is building a leadership and technical bench that matches its ambition.
Executive Takeaway
This funding round is not just a capital story—it’s a market readiness signal. Onfly proves that LATAM’s corporate travel sector is no longer a cost center managed by fax-era agencies. It’s becoming a technology category.
And if the $50 billion market opportunity is any indication, this is only the beginning.
For travel operators, B2B fintech, and enterprise platforms watching Latin America:
Business travel isn’t catching up to tech. Tech is redefining business travel.
Onfly is just first to the runway.
