French startup Swile gets unicorn status with $200 mln Softbank-led fundraising

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Oct 11 (Businesshala) – Swile has raised an additional $200 million in capital raises backed by Japan’s SoftBank, aiming to expand its business internationally and beyond corporate benefit services, the French startup said on Monday.

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Through this capital increase, Swyle, which provides electronic meal vouchers and other employee benefits to companies like Carrefour, Spotify and Airbnb, joined the growing ranks of the nation’s tech unicorns or startups worth $1 billion or more. .

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The company, which counts Eurazio, Index Ventures and BPIFrance among its investors, said it had achieved a 13% share of the corporate profits market since its launch in the southern French region of Occitania four years ago.

It has already raised a total of 115 million euros in the last three funding rounds, while it will see Michel Combs, chairman of SoftBank International Group and former chairman of mobile companies Alcatel-Lucent and SFR-Numericable, join the board.

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Swyle, who finished second Here Listed France’s Most Attractive Startups in 2021 on LinkedIn and investment-wise, it plans to double its workforce by hiring 500 employees by the end of 2022 and aims to release its team building and communication app soon . (Reporting by Dagmara Macos in Gdansk, Editing by Lewis Heavens)

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