Ben secures £1.8m in seed investment led by Cherry Ventures and Seedcamp
The funding round was led by Cherry Ventures and Seedcamp with participation from a roster of angels.
Ben provides a software platform and financial infrastructure that enables small and mid-market companies to offer personalised employee benefits. The company combines a SaaS platform with per-employee Mastercards to streamline administration and increase flexibility.
Employee benefits platform Ben has secured £1.8m in a seed funding round led by Cherry Ventures and Seedcamp. The capital follows a period of strong growth for the company, driven by increased demand for flexible remote working tools during the pandemic. The business services over one hundred clients, including Impala, Improbable, and Lightricks.
The round also drew backing from several prominent angel investors from the fintech and HR tech sectors, including Paul Forster, Taavet Hinrikus, Carlos Gonzalez-Cadenas, Philip Reynolds, and Matt Robinson. Ben combines software with per-employee payment cards to give staff greater choice over their perks while reducing administrative overheads for employers.
From the founder
"The problem with benefits is clear: while they are meant to attract, engage, and ultimately drive productivity, the status quo doesn’t lead to desired outcomes. Our software platform allows companies to load funds and set individual spend rules on how these can be used. Employees are then able to choose from group benefits, such as private medical insurance, mental wellbeing services, or dental plans, while a real per-employee Mastercard opens the door to pretty much any product or service in a tax-efficient and compliant way. It’s a win-win: Employees get tailored benefits, and companies only pay for what’s used, take advantage of tax exemptions and preferred pricing, while streamlining the administration."
Sebastian Fallert
Co-Founder & CEO at Ben
