Six months to V1. Seed within months. Today a market leader.
How we built the first version of a business-travel platform for equity — for a founding team that convinced us from the very first conversation.
- Venture
- Lanes & Planes
- Case
- V1 for equity
01Intro
Intro
Business travel in the German Mittelstand runs on tools built for large enterprises: powerful, complex, expensive. Mid-sized companies need something simpler.
The founders of Lanes & Planes knew that market first-hand — and they had built companies before. Their entrepreneurial drive won us over from the first conversation. That's exactly the kind of team we back.
02Situation
Hiring a team would have cost the window
If you want to close a seed round, you need a product that convinces customers and investors — fast. Building an engineering team from scratch takes months before the first line of code is written. The founders didn't have that time.
So they looked for a partner who could deliver right away. That's exactly what our infrastructure is built for: a team that works together, proven processes and experience across many industries. It lets us jump into new venture ideas ad hoc, without months of ramp-up.
And we know what VCs look for in an early product: what does the V1 have to prove for the seed round to happen — and what can wait?
We didn't send an invoice. We took equity.
03Approach
Our job
Step 01 / 03
A V1 built for the seed round
In about six months, we built the complete first version of the platform — focused on what convinces customers and what investors want to see.
Step 02 / 03
Equity instead of invoices
We contributed the build as sweat equity. From day one, that gave us the same goal as the founders: a company that grows.
Step 03 / 03
Know your role
After V1, the founders took over and built their own organization. We stayed a shareholder — with no operational role and a stake that keeps the cap table investable.
04Outcome
What Lanes & Planes achieved
- May 2018SeedFlixBus founders, Connect Ventures and business angels
- 2020Series A$10M, led by Battery Ventures
- 2023Series B$35M, led by Smash Capital
- 2025Growth capitalDouble-digit millions from BBVA Spark
- R—01
Seed within months
In May 2018, a few months after V1 went live, the FlixBus founders, Connect Ventures and other business angels invested. Source: Deutsche Startups
- R—02
Series A and B
Battery Ventures led the $10M Series A in 2020, Smash Capital the $35M Series B in 2023. A venture builder on the cap table was no obstacle for either. Sources: Munich Startup, EU-Startups
- R—03
1,500+ companies
Companies like Enpal, Personio and the edding Group run their business travel on Lanes & Planes — today the market leader in the German Mittelstand. Source: Munich Startup
05Learnings
Learnings
- 01
Team first, then the idea
Market experience and entrepreneurial drive — that's why we came in. A strong founding team turns a good idea into a great company.
- 02
Infrastructure is capital
A team that works together, proven processes and experience across many industries are worth more than any budget. They can be invested like money.
- 03
Know your role
A venture builder belongs on the cap table, not at the helm. Know your role, don't clutter the cap table, and a startup stays fundable — and free to grow big.
Get in touch
If you want to stress-test an idea, unblock an initiative, or simply see whether we're the right partner, let's talk. You can book a straight-to-the-point session with our CEO Manni, or leave us a message.
- Address
- Zielstattstr. 19
81379 München - hello@mantro.net