Employee benefits platform Sweevana gets acquired by Swile (ex-Lunchr)

Sweevana is a startup from Batch 7 of STATION F’s Founders Program. Applications to Batch 8 of the program are currently open. If you’re building an early-stage startup and are interested in joining in January 2021, learn more and apply on: stationf.co/apply

h

Employee benefits platform Sweevana has been acquired by French fintech scale-up Swile (formerly known as Lunchr). 

Sweevana helps work councils called comité social et économique or CSE in France provide benefits to their teams. Founded in 2019 by Geoffrey Poirrier, Nino Spiegel, and Adrien Péligry, the startup has grown rapidly and been supporting over 50 CSEs of all sizes, including those of Payfit, Spendesk, Devoteam, Doctolib, and ADMR.

h

If you have worked or have heard of working in France, you probably know that the country takes employee well-being very seriously. Companies above a certain number of employees (11, for precision) need to implement work councils to represent their employees and promote workplace well-being. Companies also need to provide lunch vouchers to their employees every month if working hours include lunchtime. 

Traditionally, these lunch vouchers come in a paper format. However, in recent years, lunch voucher companies have started to offer prepaid cards that work in eligible stores and restaurants. Sweevana’s new mother company, Swile (ex-Lunchr), was amongst the first to take advantage of this shift by proposing a lunch voucher card with more flexibility. For instance, Swile users can associate their debit card to their account and complete the payment of meals beyond the lunch voucher budget with their debit card. 

h

Swile recently closed a Series C of €70 million led by Index Ventures, bringing the total funding raised since its launch in 2018 to €115 million. The company had planned to extend its offer beyond meal vouchers and lunch break experiences, with a new product that enables corporate gifts to be distributed to employees using the same system, and the addition of features to improve life at work and employee engagement. Sweevana, by joining Swile, will help them complement their lunch card offer and accelerate their growth in the employee benefits market.

By

Cindy Yang
[email protected]