YourCampus receives € 2.7 mln for reforming European labor market with flexible compensation
Amsterdam, October 26th 2022
YourCampus, the platform where employees can choose their own benefits and perks on an employer's budget, has raised €2.7 mln in growth capital. With the investment that is coming from existing and new investors, YourCampus will expand and further scale up their flexible compensation platform in Europe.
On the YourCampus platform, employees can use a personal budget that is paid for by their employer to choose from a variety of fringe benefits and modern perks in categories such as well-being, personal development, financial well-being and mobility. 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.
"The job market is under tremendous pressure. In the 'war for talent', employers are looking for ways to attract talent, specifically Gen Z," said Florian Gendrault, founder and CEO of YourCampus. "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."
€2.7 million investment
The raised investment is 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) are also joining. In addition, existing investors Dutch Founders Fund and angel investors Marc van Agteren (Usabilla), Anouk de Wolff (Scale Force Talent) and Omri Amir (FindHotel) are increasing their stake in YourCampus. Earlier they invested €500,000 in the Amsterdam-based start-up.
Existing and new benefits
With the investment, YourCampus will continue to expand, aiming to be a platform for all employee compensation. In addition, YourCampus aims to make existing benefits from companies as easy to find for employees by integrating them into the platform.
Next to the existing benefits, the platform offers services and products from partners. YourCampus collaborates with a wide range of providers, including Brand New Day, Classpass, Swapfiets and GoodHabitz. Employers pay a monthly fee per employee, but in return they do not have to source individual benefit services themselves. One-time rewards can also be offered, in the form of a bonus or as a birthday gift. Companies can keep all personnel costs on the YourCampus platform and can allocate a budget per employee and category, such as a mobility budget. In addition, YourCampus offers integration with HR & payroll vendors such as Visma Nmbrs, HiBob, Personio, Loket and AFAS.
Growing to 1 million active employees
The YourCampus platform was launched in November 2021 and already over 100 companies are using the platform. Work is currently underway to add flexible holiday pay and days off, and further expand the flexible pension plan options. In the future, the company hopes to add more HR services as well.
"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," says Gendrault. "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."
YourCampus is an Amsterdam HR tech startup founded in the spring of 2021 by Florian Gendrault (CEO), Ruben van den Boogaard (Head of Product), Sven Cune (COO), George Visniuc (CTO) and Adil Bougamza (technical co-founder). They are on a mission to make employee benefits more accessible to all companies, of every size, by enabling personal and tailor-made compensation for employees through secondary terms of employment.