The employee benefits consulting industry in Europe focuses on optimizing resources for businesses to attract and retain talent. Companies in this sector offer consulting services in health benefits, retirement plans, and wellness strategies, aiming to enhance employee satisfaction. This market is increasingly driven by competition for skilled workers and a growing awareness of mental health and well-being. With a shift towards personalized benefits packages and technology-enabled solutions, the industry is evolving. Expect innovative platforms that streamline administration and cater to individual employee needs, making HR processes more efficient and effective for businesses across various sectors.


The featured investors include a mix of corporate giants and funds, mainly based in major cities across the UK and France. Established between 1981 and 2017, these firms range in size from small teams to large organizations employing thousands. Their activity in 2024 indicates a robust interest in the employee benefits sector, with a total of 563 deals made, highlighting their strategic focus on integration and innovation in consulting services.


Top 16 Employee Benefits Consulting Investors in Europe


1. Accenture

  • Website: accenture.com
  • Type: Corporate
  • Headquarters: Dublin, Dublin, Ireland
  • Founded year: 2001
  • Headcount: 10001+
  • Number of deals in 2024: 51
  • LinkedIn: accenture

Accenture is a leading global consulting firm based in Dublin, Ireland, specializing in information technology and management consulting services. Founded in 2001, the firm has grown to employ over 10,000 professionals and has made 51 investments in 2024 alone. Accenture offers a wide range of solutions to businesses across various industries, helping them innovate, improve efficiency, and navigate digital transformation. Notably, Accenture has made several strategic acquisitions that enhance its consulting capabilities, including the acquisition of Root in April 2021, which may contribute to its employee benefits consulting services. Additionally, the acquisition of Altus Consulting in March 2025 and Axis Corporate in April 2024 further demonstrates Accenture's commitment to expanding its consulting offerings, potentially including employee benefits consulting as part of its broader service portfolio.


2. 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 various services, including direct funding, export credit insurance, and private equity investments. The firm 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 consulting industry, including investments in Club Employés, which raised €1.5 million and €7 million in funding rounds, focusing on employee benefits solutions. Additionally, Bpifrance participated in funding rounds for Swile, a company that seeks to enhance employee experience and expand its offerings beyond corporate benefits, indicating a strategic interest in the employee benefits sector.


3. 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 employee benefits and payroll solutions. Index Ventures participated in Justworks' Series A through Series E funding rounds, contributing to a total of $53 million raised by the company. This involvement highlights their interest in enhancing employee benefits platforms and supporting businesses that cater to the needs of employees and employers alike.


4. 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 provides specialist insurance solutions across various sectors, including risk management, trade credit insurance, and notably, employee benefits consulting. The firm has made significant strides in the employee benefits space, particularly with its acquisition of i2 Healthcare in June 2018, which marked its first acquisition in this sector since 2016. This acquisition aimed to enhance PIB Group's employee benefits offerings. Furthermore, PIB Group's acquisition of Confide in July 2022 further solidifies its commitment to expanding its employee benefits consulting capabilities. These strategic acquisitions reflect PIB Group's focus on collaboration and customer-centric solutions, positioning them as a key player in the employee benefits consulting industry.


5. 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. Among their notable transactions, Kima Ventures participated in the funding of Lunchr, a corporate meal benefits company that raised $34 million in venture capital, highlighting their engagement in the employee benefits consulting industry. Additionally, they have invested in other startups like Easop, Wedoogift, Oyster, and Swile, showcasing their diverse portfolio while maintaining a focus on innovative solutions that can include employee benefits.


6. Apax

  • Website: apax.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 201-500
  • Number of deals in 2024: 8
  • LinkedIn: apax-partners

Apax Partners LLP is a private equity firm based in London, England, founded in 1981. The firm specializes in managing investments across various sectors, including technology, internet/consumer, healthcare, and services. Apax collaborates with management teams of high-potential companies to drive growth and innovation. They serve institutional investors seeking to enhance their capital through strategic investments in private equity funds. Notably, Apax has made significant investments in the employee benefits consulting sector, including the acquisition of Hub International, a leading insurance brokerage that provides employee benefits consulting services, and Assured Partners, which also operates in the insurance and employee benefits space. More recently, Apax acquired Zellis, a company focused on payroll and HR software services, further emphasizing their commitment to enhancing employee benefits and HR solutions. These transactions highlight Apax's strategic focus on companies that contribute to the employee benefits consulting industry.


7. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm founded in 2011, based in London, England. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses across the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has made significant investments in companies relevant to the employee benefits consulting industry, including Medigold Health, which focuses on occupational health and corporate wellbeing services, and XCD HR, which provides HR solutions. These transactions highlight BGF's commitment to supporting businesses that enhance employee wellbeing and benefits, reinforcing their role as a key player in this sector.


8. 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, Aon operates globally, providing a range of services including insurance broking, risk analytics, and consulting to help businesses navigate complex risks and optimize workforce strategies. Notably, Aon has made strategic acquisitions to enhance its capabilities in employee benefits consulting, such as the acquisition of Benefits Corredores de Seguros Ltda in June 2023, aimed at strengthening its Health Solutions in Chile. Additionally, the acquisition of Lorica Employee Benefits in June 2014 further expanded Aon's human resource solutions business. These transactions highlight Aon's focus on enhancing its offerings in the employee benefits consulting space, alongside its broader risk management and insurance services.


9. 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. The firm specializes in investing in early-stage startups across Europe, providing financial backing and support to founders in areas such as product-market fit and sales. Seedcamp has a strong focus on technology-driven companies looking to innovate and grow. Notably, Seedcamp has invested in companies relevant to the employee benefits consulting sector, including Ben, which offers a marketplace for employees to select suitable benefits, and Peppy, a health services platform that supports employee wellness. These investments highlight Seedcamp's engagement in the employee benefits consulting industry, alongside their broader investment strategy.


10. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, known as LDC, is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. They focus on helping management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. Notably, LDC has made significant investments in the employee benefits consulting space, including their acquisition of WEALTH at work in 2009, which provides financial and employee benefits services. More recently, in December 2022, LDC invested in scarlettabbott, an employee engagement consultancy, to support its growth, highlighting their commitment to the employee benefits consulting sector. Additionally, LDC has been involved in various other sectors, such as technology and analytics, with investments like Horsefly, an AI-based talent analytics platform, showcasing their diverse investment portfolio.


11. 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 operates globally and has a diverse portfolio of companies. Notably, they have invested in Alan, a French health insurance startup that raised significant funding in both Series A and seed rounds, indicating their interest in health-related employee benefits. Additionally, Partech invested in Epsor, a company focused on employee and retirement savings plans, which raised €20 million in a Series B round. This involvement in companies that directly address employee benefits showcases Partech's strategic interest in this sector, alongside their broader technology focus.


12. Inflexion

  • Website: inflexion.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: inflexion-private-equity

Inflexion Private Equity Partners LLP is a private equity firm based in London, UK, founded in 1999. The firm specializes in investment management and growth strategies for businesses across various sectors, including Consumer, Healthcare, and Technology. Inflexion has a strong track record of investing in companies that provide employee benefits services, notably through their acquisition of Asperity Employee Benefits in December 2010, valued at £25.5 million. Asperity is recognized for its employee benefits services, catering to over 500 clients and generating approximately £150 million in retail spend annually. Inflexion also acquired Reward Gateway in December 2010, further emphasizing their focus on the employee benefits consulting sector. Their strategic investments aim to support the growth and expansion of these companies, showcasing their commitment to enhancing employee benefits solutions in the market.


13. 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 supporting startups in navigating their growth challenges. Notably, LocalGlobe has invested in YuLife, a tech-driven insurance company that raised significant funding rounds, including a £3 million seed round led by LocalGlobe in 2018, and subsequent Series A and C rounds. Additionally, LocalGlobe participated in the seed funding of Justworks, an online payroll and benefits platform, which aligns with the employee benefits consulting industry. These transactions highlight LocalGlobe's engagement with companies that are directly involved in employee benefits, making it a relevant investor in this space.


14. 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 made significant strides in the employee benefits consulting space through strategic acquisitions. Notably, in 2017, Visma acquired LogBuy, a Danish company that offers employee benefits programs, integrating it into its portfolio to enhance its offerings in this domain. Furthermore, in 2022, Visma acquired Mandü, a SaaS company focused on Employee Engagement and Performance Management, which aims to expand its HR product footprint in Latin America. These acquisitions demonstrate Visma's commitment to enhancing its capabilities in employee benefits and HR solutions, making it a relevant player in the employee benefits consulting industry.


15. SoftBank Investment Advisers


SoftBank Investment Advisers, also known as the SoftBank Vision Fund, is a venture capital fund based in London, England, founded in 2017. The fund specializes in investing in technology-focused companies, particularly those innovating in artificial intelligence and related fields. With a commitment to fostering technological advancement, SoftBank has built a diverse portfolio that spans various sectors, including health tech and fintech. Notably, they have made significant investments in companies relevant to employee benefits consulting, such as Collective Health, which raised $280 million in Series F funding to enhance health benefits management across the U.S., and Human Interest, which secured $200 million in Series D funding to improve employee retirement benefits. Additionally, their investment in Beisen, China's largest integrated human resources SaaS platform, highlights their engagement in the human resources sector, further solidifying their relevance in the employee benefits consulting landscape.


16. Howden Broking


Howden Broking, part of the Hyperion Insurance Group, is a corporate investor based in London, England, founded in 1994. With over 10,000 employees, Howden operates as an insurance broker offering a diverse range of insurance products, including Employee Benefits. The company serves both individual consumers and businesses, providing tailored insurance solutions to manage risks and protect assets. In recent years, Howden has made significant acquisitions to bolster its presence in the employee benefits consulting space. Notably, in January 2019, Howden acquired Punter Southall Health and Protection Holdings Ltd, enhancing its UK business and international Employee Benefits offering. Additionally, in January 2024, Howden acquired AHR Consultants, which specializes in HR, employment law, training, and health & safety services, further strengthening its risk management capabilities in the UK. These transactions reflect Howden's strategic focus on expanding its employee benefits consulting services and its commitment to providing comprehensive solutions in this sector.



Employee Benefits Consulting Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
AccentureDublin, Dublin, Ireland10001+200151
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Index VenturesLondon, England, United Kingdom (UK)51-200199667
PIB GroupLondon, England, United Kingdom (UK)1001-500020159
Kima VenturesParis, Île-De-France, France1-10201050
ApaxLondon, England, United Kingdom (UK)201-50019818
BgfLondon, England, United Kingdom (UK)51-200201153
AonLondon, England, United Kingdom (UK)10001+19872
SeedcampLondon, England, United Kingdom (UK)11-50200740
LdcLondon, England, United Kingdom (UK)51-200198115
PartechParis, Île-De-France, France51-200198224
InflexionLondon, England, United Kingdom (UK)51-200199910
LocalGlobeLondon, England, United Kingdom (UK)11-50201915
VismaOslo, Oslo, Norway10001+199616
SoftBank Investment AdvisersLondon, England, United Kingdom (UK)201-500201714
Howden BrokingLondon, England, United Kingdom (UK)10001+199414


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