Securities-restaurants, it is done ! The appetite of Swile (ex-Lunchr) is now focusing on new markets, start with the titles-gifts and mobility, before venturing a few months on the side of the tracks-holiday. To fund these new horizons, the startup announced on Tuesday a round of 70 million euros, loop from Index Ventures, Idinvest and Bpifrance. ” The explosion of new ways of working is forcing businesses to adopt cloud solutions, and to think of new ways to strengthen the commitment and cohesion of employees, wherever they are. The strength of Swile is to be anticipated very early in this trend, allowing now to have a unique value proposition in its sector “welcomed Martin Mignot, partner at Index Ventures.
This new round table, which is a continuation of three previous operations of $ 2.5 million, 11 million and 30 million euros respectively, finalized in 2017, 2018 and 2019, comes at a time when Swile has solidified its position on the securities market, restaurants, two and a half years after its launch fantastic. The map embedded securities-restaurants developed by the startup has convinced 8000 companies, and now benefits 210 000 employees. ” We have conquered 7% of the market in two years, which shows that it has been able to address the entire market – small, medium and large accounts, is delighted that Loïc Soubeyrand, founder of the startup. If it continues on this momentum, we will reach soon the million employee beneficiaries. “
A smart card to combine the advantages
The time is now to diversify. ” We’ve always had the vocation to manage the entire benefit employees, integrated in a single card “recalls Loïc Soubeyrand. Securities gifts will be shipped as soon as the school year began, the titles-mobility by the end of the year. ” Unlike titles-restaurants already with a base of 8000 customers who may be interested in these new activities. “The startup hopes to exceed by three years the 20% share of the market on each of these new segments. And account for it on a snowball effect : the more integrated services will be important, the more the product becomes attractive to potential customers. The name change, announced at the beginning of march, also allows you to out the startup box “lunch” .
In parallel to these developments, Swile also develops a new solution dedicated to the engagement partner and the team life. It allows for exchange between colleagues, to easily organize prize pools, or to provide for the appointment of team. Again, the startup capitalizes on the attractiveness of products developed by other companies (Leetchi or Lydia, for example), but adapts them to the specificities of the life business to leverage on the use. ” These are solutions that are used in a recurring manner between friends, but which have not been designed for use between colleagues, which complicates sometimes the product. Our idea is to tackle the heterogeneity of the solutions by centralizing the usage on our platform “, boasts Loïc Soubeyrand.
Finally, the new financial transaction will also be used to finance the first phase of internationalization of Swile. Unlike many other companies, who choose London or San Francisco, the startup prepares to take off for Brazil. ” It is the market number 1 in the world of the title-restaurants, a market five times larger than France, where we may quickly deploy our offering dedicated to engagement staff “, states the founder. During the six months Swile will therefore focus on the opening of an office on-site and on the launch of this market is sprawling.
After which, the startup intends to expand its horizons, thanks to its new platform. ” It will enable us to go into countries that do not have titles-restaurants, such as Germany, the United Kingdom or the United States, list Loïc Soubeyrand. Only 33 countries in the world have them and they are mainly Latin. And even in these countries, it concerns little enterprises – 25% in France ! Our goal is to diversify in order to expand our market. “2021 should therefore realize large-scale cravings also Swile.