French startup Swile, the startup formerly known as Lunchr, has completed a third round of fundraising (series C) of €70 million, spearheaded by Index Ventures, which was also lead investor for a previous €30 million round in 2019. Bpifrance, a newcomer, as well as Idinvest – a historic Swile investor – have also joined the latest round for the scale-up led by Loïc Soubeyrand. The new funding will enable the company to pursue international expansion – starting with Brazil – and to diversify the product offering.
Loïc Soubeyrand, Swile’s founder and CEO comments: “This new round of funding will allow us to ambitiously diversify our product offering and expand internationally after our success in France. Our market opportunity is global, resilient and growing rapidly. The recent sanitary crisis has highlighted the fundamental corporate switch towards digital employee benefits, as well as the importance of promoting and maintaining team cohesiveness, which will create new opportunities for Swile’s global growth in the future”.
With today’s funding round, the company plans to expand to another popular type of benefits for French companies — gift cards. Every year, employee representatives receive a budget from the company. They can choose to support employees in different ways, including by offering gift cards before the holidays.