Amsterdam-based YourCampus, an HRtech company that offers reward and engage employees by letting them choose their own benefits, announced on Wednesday, October 26, that it has raised €2.7M in growth funding.
The round was led by early-stage B2B software investor Newion. ROM InWest and angel investors Kalo Bagijn (Brand New Day), Fritz Korten and Joost Jolink (Fresca Group) also participated in the round.
Existing investors, including Dutch Founders Fund and angels Marc van Agteren (Usabilla), Anouk de Wolff (Scale Force Talent) and Omri Amir (FindHotel), also participated. They had previously invested €500K in the startup.
Growing to 1 million active employees
YourCampus says it will use the funds to expand and further scale its compensation platform in Europe.
Launched in November 2021, the HRtech startup already has over 100 companies using its platform. In addition to expanding the possibilities for flexible pension plans, the company is working to introduce flexible holiday pay and days off. It also has plans to expand its HR services in the future.
Florian Gendrault, founder and CEO of YourCampus, says, “With the rise of hybrid working, employers face the challenge of keeping their employees engaged. The YourCampus app has a high engagement rate because employees are excited about their personal benefits. It provides opportunities to increase company culture through the platform. In addition, we are expanding to other European countries.”
“For employees, we know no borders, as many of the services offered are internationally available. Employers abroad undoubtedly face the same challenges as they do here in the Netherlands. Our ambition is to have more than 1 million employees active on YourCampus by 2025,” adds Gendrault.
“Flexible employee benefits that attract and retain talent”
Founded in 2021 by Florian Gendrault, Ruben van den Boogaard, Sven Cune, George Visniuc, and Adil Bougamza, YourCampus offers employees access to a digital wallet in a mobile app customised to their employer’s corporate identity.
Employees can also use their budget in an online marketplace offering a wide variety of benefits.
The Dutch startup offers services and products from partners such as Brand New Day, HelloFresh, Swapfiets, Felyx, Classpass, and Inuka. In the Netherlands, YourCampus counts scale-ups like rapid delivery service Zapp, finance-analytics platform Owlin and growth accelerator RocketX among its first clients.
Employers don’t have to find individual benefit services themselves in exchange for paying a monthly charge per employee. One-time incentives can also be provided, such as bonuses or gifts for special occasions. Companies may establish a budget per employee and category, such as a mobility budget, and keep track of all personnel expenditures on the YourCampus platform.
YourCampus also provides connectivity with HR & payroll service providers such as Visma Nmbrs, HiBob, Personio, Loket, and AFAS.
Employees can pick from a number of modern perks and fringe benefits on the YourCampus platform using a personal budget funded by their company. Categories include mobility, personal development, well-being, and financial well-being.
Existing salary components can also be used flexibly, such as a pension plan, holiday pay and days off. YourCampus thus responds to the fact that every employee has different needs, due to being in different stages of life or working from different locations.
Founder Florian Gendrault says, “The job market is under tremendous pressure. In the ‘war for talent’, employers are looking for ways to attract talent, specifically Gen Z. But there is no one-size-fits-all when it comes to fringe benefits and perks. An older employee might benefit from a good pension plan, while a younger employee may prefer to receive their vacation pay monthly and have some budget left over for personal development. YourCampus offers flexibility in fringe benefits and perks, but with collective discounts.”
Brief about the investors
Amsterdam’s Newion focuses on European B2B software startups and scale-ups with global ambition. The firm has backed more than 60 startups, including Collibra, Foleon, CustomerGauge, L1NDA, Swipeguide, and Deliverect, among others. The firm’s fund “Newion IV” is supported by the EU through the InvestEU fund.
ROM InWest, established in October 2021, provides an impetus to an innovative and strong entrepreneurial climate in North Holland from its homebase Haarlem. It does this by offering financial support from its funds, assisting entrepreneurs with their business cases, and linking them to its (ROM InWest) network. The firm backs SMEs in energy transition and the circular economy.