Atomico backs UK-based worker advantages platform Ben in €15.7M spherical

Atomico’ Companion Sasha Vidiborskiy will be a part of Ben’s board as a part of the funding.

The UK firm says it would use the funds to speed up the event of its SaaS and funds know-how and increase its international employer buyer base. 

Ben: What that you must know

Based by Sebastian Fallert and David Duckworth in 2019, the corporate’s know-how integrates accounting, HR, and Payroll methods to streamline all onboarding, enrollment, administration, and offboarding processes.

Ben’s per-employee Ben Mastercard and versatile allowance operate allow corporations to set worker budgets and spending guidelines. The corporate is working with 150+ corporations globally, from mid-sized, totally distributed corporations to massive enterprises. 

In response to Sebastian Fallert, the corporate brings collectively worker profit help for Child Boomers, Technology X, Millennials, and Technology Z in a single place. 

“That is the primary time in historical past that 4 generations coexist within the workforce concurrently. Child Boomers, Technology X, Millennials, and Technology Z take part in a fancy international economic system, and their profit necessities differ and fluctuate,” stated Ben CEO and co-founder Sebastian Fallert. “Corporations, a lot of whom are spending round 33 per cent of payroll on advantages, are reassessing their conventional advantages packages to suit extra culturally and ethnically numerous groups distributed around the globe.”

With its know-how, the UK firm goals to eradicate the difficult HR process of sourcing and managing a package deal related for a complete workforce or spending cash on advantages which might be saved in spreadsheets and by no means used. 

Investor

Based in 2006, Atomico invests in bold tech founders at Collection A and past with a selected concentrate on Europe, leveraging deep operational expertise to supercharge their development.

Atomico has partnered with over 100 bold groups, together with these at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Cellular, Pipedrive, and Hinge Well being. 

The agency at present has $4B in belongings below administration. 

“The problem of managing advantages has grow to be more and more tough for corporations with a world workforce, particularly given the continued struggle for prime expertise. Sadly, the established order is ‘one-size-fits-most’ advantages packages which might be managed in spreadsheets in an archaic and largely handbook method,” says Atomico Companion Sasha Vidiborskiy. 

“Ben’s distinctive platform massively reduces the admin burden on HR and seamlessly delivers advantages that workers care about. This flexibility is essential within the present macroeconomic surroundings, the place firm efficiency and productiveness rely closely on worker satisfaction and retention,” she provides.