UK-based employee benefits platform Ben has reportedly collected $2.5m in funding.
Cherry Ventures and Seedcamp served as the lead investors, with commitments also coming from a series of angel investors, according to a report from TechCrunch. Among the angel backers are Indeed founder Paul Forster, TransferWise founder Taavet Hinrikus, Index Ventures partner Carlos Gonzalez-Cadenas, Nested Founder Matt Robinson and Workday vice president of engineering Philip Reynolds.
The company empowers businesses to give each of their employees a range of benefits that meets their needs. Ben works with existing benefits systems and gives them flexibility so employees can pick which ones they want.
Employees are given a Ben Mastercard which has an unallocated budget, meaning they can decide how to spend their allocation of benefits budget.
Ben co-founder and CEO Sebastian Fallert told TechCrunch, â€œWhile most companies offer benefits in order to attract and engage team members, and ultimately drive productivity, most solutions donâ€™t deliver the desired outcomes.
â€œTo have impact, offerings need to work for the individual employees; after all, a â€˜benefitâ€™ thatâ€™s relevant for somebody working from home in their mid-40s could be next to useless for a new starter in their 20s.â€
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