Swile becomes second fastest French tech unicorn

Swile, a smart card for employees, has raised $200m in its Series D round, making it the second fastest French tech company to reach the unicorn status.

The company also becomes one of the only French unicorns to rooted outside of Paris.

Softbank served as the lead investor, with commitments also coming from Eurazeo, Index Ventures, Bpifrance Large Venture and Headline.

Swile claims that in four years it has managed to capture 13% of the French corporate benefits market. Its clients include Doctolib, Spotify, Airbnb and more.

The FinTech hopes to expand its product suite with the launch of the Swile Card and Swile App.

Its new card is an all-in-one payment solution that manages all corporate benefits, such as meal vouchers, gift vouchers and mobility. It will also add other benefits in the coming months, including holiday vouchers, salary advances and more.

Its app, which has been in beta for the past 12 months, will focus on team building and cohesion with internal communication, recognition and praises between colleagues.

SoftBank Group president Michel Combes said, “Swile’s long-term vision to improve how people experience work are well aligned with SoftBank’s vision of digital transformation. We are impressed by the company’s innovative product. Swile has demonstrated its success in France serving some of the nation’s largest employees, and we believe the company is in the early innings of replicating that in Brazil and Latin America.”

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