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Fundraising, number of "unicorns"... What's the status of French Tech?
When he founded Swile, just five years ago, Loïc Soubeyrand would never have dared to dream...
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Article:
When he founded Swile, just five years ago, Loïc Soubeyrand would never have dared to dream...
Article:
At 35, the Montpellier native is at the head of Swile, a company he founded only four years ago...
Article:
Hyper-growth, jobs creation, they are disrupting the industry, attracting investors...
Article:
French startup Swile has raised a $200 million Series D funding round led by SoftBank...
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Swile has raised additional an $200 million in a capital increase backed by Japan’s Softbank...
Article:
Paris-based scaleup Swile, a digital solutions provider for employee rewards and benefits, has earned unicorn status...
French scaleup Swile, founded in 2018 by Loïc Soubeyrand, announced today its fourth round of funding (series D) in 4 years for $200 million. The worktech is gaining traction not only by becoming the 2nd* fastest French tech company to reach this status, but also surfacing as one of the only French unicorns rooted outside the capital city of Paris.
This series was led by Softbank, the world's largest Tech fund (Uber, WeWork, Revolut, Slack etc.) and Michel Combes, chairman of Softbank International Group and former chairman of Alcatel-Lucent and SFR-Numericable.
Previous Swile investors Eurazeo, Index Ventures, Bpifrance Large Venture, as well as newcomer Headline, also participated.
This ambitious fundraising aims to focus on Swile's technological advancement and further international expansion.
“The fact that Swile has become our 19th unicorn is a shining symbol as to how far French Tech has come. In just a few years, startups have been engines for growth and job creation across the country, like Swile in Montpellier. In 2017, the French Tech ecosystem had just 3 unicorns. Now it has 19 and is expected to exceed €10 billion in funds raised in 2021. These exceptional results are in large part due to the creativity of our entrepreneurs and also the constant support from the Government towards these strategic technological advances and the French economy. The success of Loïc Soubeyrand and his team, in the space of a few years and in a sector that was essentially closed to new players, embodies the spirit of innovation and boldness that are at the heart of entrepreneurship,"
said Cédric O, Minister of State for Digital Transition and Electronic CommunicationIn just 4 years, Swile managed to conquer 13% of the French corporate benefits market. After having first integrated its services with well-established tech companies such as Doctolib, Spotify, and Airbnb, Swile now provides benefits to companies of all sectors and sizes, ranging from small businesses to the largest private company in France, Carrefour.
Swile is now looking to expand its scope beyond corporate benefits by continuing to launch new digital solutions with 2 main products:
"Softbank has just announced a new $3 billion fundingdedicated to Latin America in addition to the already existing $5 billion. This new fund lets us continue and expand our investments in this geography. We are delighted to help Swile become the global leader it aims to be in the coming years by accelerating its development in Latin America."
said Michel Combes, President of SoftBank Group International (SBGI).
To reach this goal, Swile will continue to seek out top talent and recruit 500 employees by the end of 2022 in Brazil and France, doubling the size of the company.
"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.”
Loïc Soubeyrand, CEO of SwileThese recruitments will help maintain Swile’s organization, which has a workforce distributed throughout France -25% in Paris, 25% in Montpellier, 25% remote, and another 25% in Brazil. Swile's local roots in the southern French region of Occitania have already created 150 jobs and contribute to both attractiveness and development in the area.
Swile in a nutshell:
Press contacts:
Franck Pasquier – fpasquier@image7.fr – +33 6 73 62 57 99
Charlotte Mouraret – cmouraret@image7.fr – +33 6 89 87 62 17
“Our recent fund-raising has enabled us to achieve two of our strategic objectives: external growth and international expansion. I am delighted today to announce that Vee is joining Swile and let us launch services in Brazil. As the world's largest market for luncheon vouchers, Brazil offers Swile significant development potential and exciting possibilities to write a new page in the company's adventure”
Loïc Soubeyrand, Founder and CEO - Swile."Vee Beneficios and Swile share the same values linked to corporate culture and the same objective of building a very complete and innovative product, in the Brazilian market but also throughout the world. Over the next three years and hand in hand with the Swile teams, we will put all our efforts to improve the lives of employees, users and customers ”
Raphael Machioni, co-fondateur et CEO - Vee Beneficios.Swile in a nutshell:
The Brazil meal voucher market in a few numbers:
Press contacts:
Franck Pasquier – fpasquier@image7.fr – +33 6 73 62 57 99
Charlotte Mouraret – cmouraret@image7.fr – +33 6 89 87 62 17
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