– FRANCE, Paris – Swile, founded in 2018 by Loïc Soubeyrand, today announced a $200 million Series D funding led by Softbank, the world’s largest Tech fund, alongside previous investors Eurazeo, Index Ventures, Bpifrance Large Venture, as well as newcomer Headline, also participating.
Concurrent with the financing, Michel Combes, chairman of Softbank International Group and former chairman of Alcatel-Lucent and SFR-Numericable, joins the board of directors.
“Swile’s long-term vision to improve how people experience work are well aligned with SoftBank’s vision of digital transformation. We are impressed by the company’s innovative product. Swile has demonstrated its success in France serving some of the nation’s largest employees, and we believe the company is in the early innings of replicating that in Brazil and Latin America”, commented Michel Combes, President of SoftBank Group International.
This new funding aims to focus on technological advancement and further international expansion.
For its Series D round, Swile was looking for a global investment fund with a deep understanding of Latin America, and specifically, the employee benefits market. Softbank was at the top of the list.
Loïc Soubeyrand, CEO of Swile, said: “With this $200 million round of funding, we have acquired additional resources and a first-class partner to continue to disrupt established models and bring our ambitious mission to life: creating a fulfilling world of work.”
Swile is a worktech company launched in 2018 by Loïc Soubeyrand (co-founder and ex-CEO of Teads, sold to Altice in 2017).
The company raised €15 million (seed/series A) in 2018, €30 million (series B) in 2019, €70 million (series C) in 2020, and €175 million (series D) in 2021.
Swile offers an all-in-one card that brings together employee benefits (meal vouchers, gift vouchers, mobility benefits, etc.) and an app dedicated to employee engagement.
The company operates in France and Brazil with 500 employees, 500,000 users, and 15,000 corporate clients.
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