Ben, is a London-based employee benefits platform that simplifies expense management for both the employer and employee. Ben have raised $2.5m in their latest funding round led by Cherry Ventures and Seedcamp.
Ben is unlocking the potential of embedded finance by marrying a modern software (SaaS) platform with per-employee Mastercards and financial infrastructure. The resulting solution gives employees more individual choice around which benefits they choose and makes it easy to on-board additional providers, all while saving businesses time and money. This can be done via the marketplace, or through whitelisting merchant or merchant categories via the employer issued Mastercards, such as food and drink or travel and mobility, or a specific co-working space etc.
‘The way SMEs manage their employees’ benefits today is totally broken. We’re taking a fresh look at the problem by embedding payments and letting employees actually choose benefits that matter to them.’ – Sebastian Fallert, CEO at Ben.
Ben also recently announced their latest client win – Improbable. Improbable, The Multiplayer Company, are issuing their employees with Ben cards, providing them with a monthly COVID-19 support allowance to make home-work life that much easier.
Alex Mifsud, Co-Founder and CEO at Weavr had this to say: ‘Ben is a great example of a company taking advantage of embedded finance capabilities to drive innovation in an industry that needs to remain relevant to the future of work. They’re shaking up the employee benefits space and we are thrilled to be on the journey with them.’
You can read the full article here: https://techcrunch.com/2021/01/31/ben/
Discover how Weavr has helped other companies to embed finance into their businesses you can read their case studies here.
Still unsure about embedded finance? Check out our Ultimate guide to what is embedded finance.
