French fintech Swile lands $200m investment to drive Latin American expansion
French employee benefits fintech Swile has secured $200 million in a Series D funding round led by SoftBank.
Previous investors Eurazeo, Index Ventures and Bpifrance Large Venture also participated, along with newcomer Headline.
Michel Combes, chairman of Softbank International Group, will join Swile’s board of directors as part of the investment.
Founded in 2018, the start-up offers an all-in-one card that brings together employee benefits such as gift cards and meal vouchers as well as an app dedicated to employee engagement, with clients ranging from small businesses to the largest private company in France, Carrefour.
Swile has now set its sights on launching new digital-led products including an all-in-one payment solution that manages corporate benefits and an app that focuses on team building and employee analytics and insights.
The firm also intends to expand its footprint in Latin America, which began with the acquisition earlier this year of Brazilian start-up Vee Beneficios.
This international strategy informed the choice of global investment fund, Swile says, as SoftBank has announced a $3 billion funding pot dedicated to Latin America.