Paynest, a one-stop-shop financial well-being platform for employees, has recently achieved a significant milestone of €2m seed funding.
This funding was led by Lince Capital, accompanied by notable participation from BlueCrow Capital, TechTree CTT managed by Iberis Capital, and M4 Ventures managed by C2 Capital.
Paynest stands out as a holistic solution for employees’ financial health. It offers a range of financial products and services, including personalised articles on personal finance management and access to qualified coaches for confidential, individualised support. This unique blend of services aims to improve employees’ relationship with money, thereby enhancing their overall well-being.
The newly acquired €2 million investment will be strategically utilised to advance product development, strengthen the team, and accelerate Paynest’s expansion across Europe. Given its early success in countries like Portugal, Greece, and France, the company is poised to capitalize on this momentum.
Paynest has already garnered significant traction, being adopted by numerous employers and thousands of employees across various industries. This reception is a testament to the platform’s effectiveness and the growing demand for employee financial well-being solutions.
Paynest CEO Nuno Pereira said, “Even in a challenging global fundraising landscape, Paynest’s mission has resonated strongly with our investors. We are thrilled to have their support, and with this round, we are empowered to pursue our vision of enhancing the financial health of employees across Europe through a single, user-friendly platform.”
Nuno Matos, Director of Digital, New Channels, and Innovation at CTT, expressed excitement about the investment, stating, “This opportunity is a strong indication of CTT Group’s commitment to the national startup ecosystem. We believe that Paynest has everything it takes to succeed in the wider European market and we want to contribute to its success. We are very aware of the important need of improving people’s relationship with money and also with their employers.
“Today, it has become more important than ever for companies to offer benefits that truly promote the well-being of their employees, not only to increase productivity but also to retain the best talent. As with all investments we make, we also see an excellent opportunity to work together, which reinforces the ever-increasing importance that CTT attaches to the well-being of our own employees.”
Luis Gutman, Managing Partner of M4 Ventures, added that “Paynest stands out for its remarkable product development potential and highly qualified founding team. The founder-market fit is evident, driving our decision to actively support its growth and expansion into the Brazilian market when the time comes.”
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