The employee benefits industry in Europe is vibrant and growing, focused on enhancing employee welfare through various offerings. Companies in this sector range from insurance providers to tech startups, all aimed at improving workplace experiences, such as health benefits, retirement plans, and wellness initiatives. With the rise of remote work and globalization, there is an increasing demand for innovative solutions that cater to diverse employee needs. Notable shifts involve digital tools for benefits management and a strong focus on mental health, signaling an industry poised for transformation as companies recognize the importance of holistic employee care.


This list comprises 12 notable investors, including venture capital firms and corporate investors, primarily based in major European cities such as Paris and London. Founded over the last two decades, these investors support companies shaping employee benefits. In 2024, they collectively made significant investments, signaling robust interest. While most firms focus on early-stage startups, larger corporate investors leverage their experience and resources to drive growth within the employee benefits space, creating promising partnerships and opportunities for innovation.


Top 12 Employee Benefits Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a variety of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation by providing coaching and partnerships to help businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the employee benefits sector, including investments in Club Employés, which raised €1.5 million and €7 million in funding rounds, and Swile, a company focused on enhancing employee experience through its corporate benefits solutions. These investments highlight Bpifrance's commitment to supporting companies that contribute to the employee benefits landscape.


2. PIB Group

  • Website: pibgroup.co.uk
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2015
  • Headcount: 1001-5000
  • Number of deals in 2024: 9
  • LinkedIn: pib-group

PIB Group is a corporate investor based in London, England, founded in 2015. As an insurance intermediary, PIB Group specializes in providing tailored insurance solutions across various sectors, including risk management and employee benefits consulting. The firm has made significant strides in the employee benefits industry, notably through its acquisition of i2 Healthcare in June 2018, which marked its first acquisition in the specialist employee benefits sector since 2016. This move aimed to enhance PIB Group's employee benefits proposition. Additionally, PIB Group has been active in expanding its market presence through various acquisitions, including Light Insurance and Tim Duggan Insurances, which, while not directly related to employee benefits, contribute to the overall growth and capabilities of the firm in the insurance landscape. PIB Group's focus on collaboration and customer-centric solutions further supports its role in the employee benefits market.


3. Kima Ventures

  • Website: kimaventures.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 50
  • LinkedIn: kima-ventures

Kima Ventures is a venture capital firm based in Paris, Île-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, backing two startups per week with financial support and mentorship to help them navigate their initial challenges. Among their notable transactions, Kima Ventures has invested in companies like Lunchr, a corporate meal benefits provider, and Swile, which focuses on employee engagement solutions. These investments highlight Kima Ventures' commitment to supporting innovative solutions in the employee benefits space, alongside their broader investment strategy that encompasses diverse industries.


4. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, and is known for providing capital and strategic support to entrepreneurs. A notable aspect of their investment portfolio includes multiple funding rounds for Justworks, a company focused on simplifying employee benefits and payroll for small businesses. Index Ventures participated in Justworks' Series A, B, C, D, and E funding rounds, contributing to a total of $53 million raised by the company. This involvement highlights their interest in the employee benefits space, as Justworks aims to enhance its benefits platform and technology offerings, making Index Ventures a relevant player in this industry.


5. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, founded in 1996. It specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions, primarily serving small and medium businesses as well as public sector organizations. Visma has a strong presence in Europe and Latin America, operating through a network of entrepreneurial companies that contribute to its innovative software offerings. Notably, Visma has made strategic acquisitions that enhance its capabilities in the employee benefits sector. In 2017, it acquired LogBuy, a company that provides employee benefits programs, integrating it into the Visma Group. This acquisition highlights Visma's commitment to expanding its employee benefits offerings. Additionally, Visma's acquisitions of Flex Applications, which specializes in HRM solutions, and Kontek, known for cloud-based payroll solutions, further emphasize its focus on enhancing employee management and benefits solutions. These transactions collectively position Visma as a relevant player in the employee benefits industry.


6. Aon

  • Website: aon.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1987
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: aon

Aon plc is a professional services firm specializing in risk management and human capital solutions, founded in 1987 and headquartered in London, England. With over 10,000 employees, Aon operates globally, providing a range of services including insurance broking, risk analytics, and consulting. Aon has made significant strides in the employee benefits sector through strategic acquisitions. Notably, the acquisition of Lorica Employee Benefits in 2014 enhanced Aon's human resource solutions business, allowing it to better serve clients in managing employee benefits. Additionally, Aon has announced its acquisition of NFP for $13.4 billion, which is expected to strengthen its position in the insurance broking sector, including employee benefits. Aon's acquisition of HRAdvance in 2010 also reflects its commitment to expanding its capabilities in employee benefits management. Overall, Aon's transactions demonstrate a clear focus on enhancing its offerings in the employee benefits space.


7. Partech

  • Website: partechpartners.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1982
  • Headcount: 51-200
  • Number of deals in 2024: 24
  • LinkedIn: partech

Partech Partners is a venture capital firm founded in 1982, based in Paris, Île-De-France, France. The firm specializes in providing funding and support to startups across various sectors, particularly in technology. Partech focuses on helping founders navigate the challenges of scaling their businesses through investment and strategic advisory services. They operate globally, with a diverse portfolio of companies. Notably, Partech has invested in Alan, a French health insurance startup, which raised significant funding in both Series A and Seed rounds, indicating their commitment to the employee benefits sector. Additionally, their investment in RelianceHMO, which has raised substantial amounts in Series A and Series B funding, further highlights their engagement in the health insurance and employee benefits landscape. This diverse investment strategy showcases Partech's ability to identify and support innovative companies that contribute to the employee benefits industry.


8. Seedcamp

  • Website: seedcamp.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 40
  • LinkedIn: seedcamp_2

Seedcamp is a venture capital firm based in London, England, founded in 2007. It specializes in investing in early-stage startups across Europe, providing financial backing and support to founders in achieving product-market fit, sales, and access to a vast network of investors. Seedcamp focuses on technology-driven companies looking to innovate and grow. Notably, they have invested in Ben, a startup that offers a marketplace for employees to choose their benefits, and Charlie, a HR platform for small businesses. Additionally, they participated in funding rounds for Pento, a payroll automation firm, which is also relevant to employee benefits. These transactions highlight Seedcamp's active role in the employee benefits industry, alongside their broader investment strategy.


9. Howden Broking


Howden Broking, part of the Howden Group, is a corporate insurance broker based in London, England, founded in 1994. With over 10,000 employees, Howden offers a diverse range of insurance products, including Home & Contents Insurance and Employee Benefits. The company serves both individual consumers and businesses, providing tailored insurance solutions to manage risks and protect assets. Howden has been actively expanding its presence in the employee benefits sector through strategic acquisitions. For instance, in January 2019, Howden acquired Punter Southall Health and Protection Holdings Ltd, enhancing its UK business and international employee benefits offerings. Additionally, in January 2024, Howden acquired AHR Consultants, a provider of HR, employment law, training, and health & safety services, further bolstering its risk management capabilities in the UK. These acquisitions reflect Howden's commitment to enhancing its employee benefits services and its strategic focus on this sector.


10. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. Specializing in early-stage technology investments, Picus Capital partners with innovative startups across various sectors, including fintech and healthcare. They provide not only capital but also strategic guidance and HR support to empower entrepreneurs in building sustainable category leaders globally. Notably, Picus Capital has invested in Caju, a company that raised $25 million in a Series B round to expand its technology team and product offerings in the employee benefits space. Additionally, they have invested in WorkMotion, which raised significant funding to enhance its services related to global employment and workforce management, further emphasizing their commitment to the employee benefits industry.


11. LocalGlobe

  • Website: localglobe.vc
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: localglobe

LocalGlobe is a venture capital firm based in London, England, founded in 2019. The firm partners with exceptional founders and companies at various stages of growth, from pre-seed to scale-up and public markets. LocalGlobe provides venture capital funding and investment management services, focusing on helping startups navigate their growth challenges. Among their notable transactions, LocalGlobe invested in YuLife, a tech-driven insurance company that raised significant funding to expand its reach and product offerings, which are relevant to employee benefits. They also participated in Wagestream, a fintech company dedicated to ending payday poverty by providing fair financial services to workers, further emphasizing their interest in enhancing employee benefits and financial wellness. These investments highlight LocalGlobe's strategic focus on companies that contribute to the employee benefits landscape.


12. Speedinvest

  • Website: speedinvest.com
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Their investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, Speedinvest has been involved in significant transactions within the employee benefits context, such as their multiple investments in Cobee, a Spain-based employee benefits app, where they participated in Seed, Series A, and Series B funding rounds. Additionally, they invested in Fertifa, a reproductive health startup, which aligns with the broader employee benefits landscape, emphasizing wellness and reproductive health as critical components of employee benefits. Speedinvest leverages a vast network of industry experts to assist their portfolio companies, enhancing their potential for success in the employee benefits sector.



Employee Benefits Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
PIB GroupLondon, England, United Kingdom (UK)1001-500020159
Kima VenturesParis, Île-De-France, France1-10201050
Index VenturesLondon, England, United Kingdom (UK)51-200199667
VismaOslo, Oslo, Norway10001+199616
AonLondon, England, United Kingdom (UK)10001+19872
PartechParis, Île-De-France, France51-200198224
SeedcampLondon, England, United Kingdom (UK)11-50200740
Howden BrokingLondon, England, United Kingdom (UK)10001+199414
Picus CapitalMunich, Bavaria, Germany11-50201528
LocalGlobeLondon, England, United Kingdom (UK)11-50201915
SpeedinvestVienna, Vienna, Austria51-200201145


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