Swile Revenue, Valuation, Funding & Investors

Swile is valued at $1B as of October 2021, a 43.5x revenue multiple. Swile revenue was $23M, as disclosed with its latest round.

See full Swile profile

Last Swile valuation

$1B

Series D · Oct 2021

Last Swile funding round

$200M

Series D · Oct 2021

Swile revenue

$23M

Series D · Oct 2021

Key investors in Swile

Swile Overview

About Swile

Swile is a Paris-based super app consolidating employee benefits including meal vouchers, mobility passes, and gift cards on a single smartcard. Launched in 2018, it adds workplace tools like peer recognition, event planning, P2P transfers, and engagement surveys. Analytics dashboards track satisfaction metrics for HR teams across French enterprises.


Founded

2018

HQ

FranceParis

Website

swile.co

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$23M (Oct 2021)

Valuation

$1B (Oct 2021)

Swile Valuation

Swile is currently valued at $1B, based on its Series D in October 2021. Read the announcement ↗

The $200M round was led by Hedosophia and SoftBank Group, with participation from Index Ventures, Bpifrance, Eurazeo and Headline.

Swile valuation by funding round

Swile valuation by funding round
DateStageValuationRevenue Multiple
Oct 2021Series D$1B43.5x

Swile Revenue

Swile's latest recorded revenue is $23M, as of its Series D in October 2021. At a $1B valuation, that implies a 43.5x revenue multiple.

Revenue moved from $183M in June 2020 to $23M in October 2021.

Swile revenue by funding round

Swile revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Oct 2021$23M$1B43.5xSeries D
Jun 2020$183M--Series C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Swile Funding History

Swile has raised a total of $326M across 4 funding rounds.

Swile's first fundraising round was a $13M Series A in May 2018. The most recent completed round was a $200M Series D in October 2021.

Swile funding rounds

Swile funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2021Series DHedosophia (lead); SoftBank Group (lead); Index Ventures; Bpifrance; Eurazeo; Headline$200M$1BSwile is a Paris-based fintech startup offering digital solutions for employee benefits through a custom payment card and mobile application. The company's product evolved from providing meal vouchers to a comprehensive benefits platform that includes gift cards, personal debit functionality, and spend management tools. By 2021, Swile had captured approximately 13% market share in France's meal voucher segment, serving major customers including Carrefour, Doctolib, Spotify, and Airbnb. In its Series D funding round announced on October 11, 2021, Swile raised $200 million led by SoftBank International Group, with participation from existing investors Eurazeo, Bpifrance, and Index Ventures, plus new investor Headline. This round granted the company unicorn status with a valuation exceeding $1 billion. SoftBank Group International's President Michel Combes joined Swile's board as part of the transaction. The company had previously raised $17.4 million in Series A (2018), $34.7 million in Series B (2019), and $81 million in Series C (2020), bringing total funding to $326 million through four rounds. Swile planned to deploy the Series D proceeds toward technological advancement, further international expansion, and new product development across its two main offerings: the Swile Card (payment solution) and Swile App (employee super-app). The company had already expanded internationally, acquiring Vee Beneficios in early 2021 to enter the Brazilian market, where it employed approximately 120 people in São Paulo. Brazil represented a significant opportunity given its status as the world's largest market for employee benefits with nearly 50 million eligible employees and near-complete digitization rates. The company's growth strategy included doubling its workforce to approximately 500 employees by end of 2022 while expanding into additional markets such as Mexico. Beyond its core transactional benefits business, Swile was testing a beta version of its mobile app designed to facilitate internal communications, employee surveys, and feedback gathering, positioning the company to generate recurring SaaS-based revenue through monthly subscriptions to enterprise clients.
Jun 2020Series CIndex Ventures (lead); Idinvest Partners; Bpifrance; Headline$79M-Swile is a Paris-based fintech startup founded in 2018 by Loïc Soubeyrand that provides digital solutions for employee rewards and benefits through a custom card and app. The company initially launched as Lunchr and offers digital meal voucher alternatives, group ordering, couponing, and payment services to improve the corporate lunchtime experience. In June 2020, Swile closed its Series C funding round of €70 million (approximately $78 million USD) led by Index Ventures, with participation from new investor Large Venture (a Bpifrance VC fund) and existing investor Idinvest Partners. The Series C brought total funding raised to €115 million since the company's 2018 launch. The capital was allocated to extend beyond meal vouchers into new product areas including corporate gift distribution and features to improve employee engagement and life at work. Swile demonstrated strong early traction, with 210,000 users in France across 8,000 companies by June 2020. The company continued its rapid growth trajectory, eventually raising a $200 million Series D in October 2021 that valued it at $1 billion, making it one of France's fastest companies to reach unicorn status. By 2023, Swile had achieved €180.2 million in annual revenue, demonstrating the market validation of its employee benefits platform across multiple European markets.
Feb 2019Series BIndex Ventures (lead); Idinvest Partners; Daphni; Kima Ventures$34M-Lunchr, the French meal-benefit startup later renamed Swile, raised EUR 30 million in a funding round announced in February 2019, roughly USD 34 million. Index Ventures and Kima Ventures joined as new investors, while existing backers Daphni and Idinvest Partners added further capital. The round came eight months after a EUR 11 million round in May 2018 and brought total funds raised to about EUR 41 million. The company said it was targeting 200,000 users and more than EUR 400 million in business volume by the end of 2019, with an opening to Europe and then the rest of the world over two years. Lunchr was created by Loic Soubeyrand, a former co-founder of Teads, and is based in Montpellier with offices in Paris. It offers a dematerialised meal voucher card and app that competes with incumbents such as Cheque Dejeuner, Edenred and Sodexo, with corporate customers including Spotify and Red Bull. It had about 60 employees at the time of the round.
May 2018Series AIdinvest Partners (lead); Daphni$13M-Idinvest Partners and Daphni invested in Lunchr, now Swile, in a EUR 11 million Series A round announced in May 2018. Daphni, the fund of Marie Ekeland, had already put EUR 2.5 million into the company in January 2017, around its launch, and Idinvest Partners joined as a new investor. The financing was meant to take the team from about 20 people to 60 by the end of 2018 and beyond 100 in 2019. Lunchr is a Montpellier-based company that issues a dematerialised meal voucher card usable at more than 180,000 acceptance points on the Mastercard network, alongside a meal-ordering app with group discounts. It was founded by Loic Soubeyrand, a co-founder of the advertising technology company Teads, and launched in early 2017. The company targets the French meal voucher market, which was then dominated by Edenred, Sodexo, Natixis and the Up group. The company later rebranded as Swile and expanded into broader employee benefits.

Who has invested in Swile?

9 investors have backed Swile across its funding rounds, including Index Ventures, Idinvest Partners, Bpifrance, Headline, Daphni and SoftBank Group.

Lead investors include Hedosophia, SoftBank Group, Index Ventures and Idinvest Partners.


Swile Investors

Investors in Swile by funding rounds participated
InvestorHQRoundsRoleFirst check
Index VenturesUnited KingdomLondon3LeadFeb 2019
Idinvest PartnersFranceParis3LeadMay 2018
BpifranceFranceParis2ParticipantJun 2020
DaphniFranceParis2ParticipantMay 2018
HeadlineUnited StatesSan Francisco, CA2ParticipantJun 2020
SoftBank GroupJapanTokyo1LeadOct 2021
HedosophiaUnited KingdomLondon1LeadOct 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Swile

Swile has acquired 2 companies to date.

Last acquisition by Swile was on May 17th 2022. Swile acquired Okarito for $6M.


Latest Acquisitions by Swile

Okarito
Vee Beneficios
Description
Okarito is a Paris-headquartered online platform that manages corporate business travel through booking tools, real-time monitoring, and expense optimization features. Travelers access personalized support during trips and book directly on the platform. Finance teams deploy dynamic budgets that adjust to live market prices, balancing cost control with employee flexibility. Savings from under-budget trips allocate portions to traveler-selected NGOs. The service targets European companies seeking efficient travel spend management.
Vee Beneficios is a Brazilian digital platform offering employee benefits including health insurance, meal vouchers, mobility passes, and wellness programs. It streamlines HR administration through self-service portals for personalized plan selection. Vee Beneficios partners with insurers and retailers to cover companies in São Paulo and Rio de Janeiro.
HQ CountryFranceBrazil
HQ City
Paris
São Paulo
Deal Date17 May 202215 Feb 2021
Valuation$6Mundisclosed
EV/Revenue
EV/EBITDA

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Investments by Swile

Swile has invested in 1 company to date.

Latest investment by Swile was on April 22nd 2022. Swile invested in Helios.do in their $10M Seed round.


Latest Investments by Swile

Helios.do
Description
Helios.do is a Faroe Islands-headquartered digital bank focused on sustainable finance launched to combat climate change. The platform offers transparent personal banking services including accounts, cards, and loans with 100% carbon-neutral operations accessible at helios.do.
HQ CountryFrance
HQ City
Paris
Deal Date22 Apr 2022
RoundSeed
Raised$10M
InvestorsSerena; Blissim; Hugues le Bret; Racine; Verve Ventures; RAISE; Meero; Motier Ventures
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Swile Competitors

Swile competitors include listed companies like Freee and Teamshares, and private ones like Payactiv, CaptivateIQ, Wrapbook and Deskera.

Public and private companies comparable to Swile
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PayactivUnited StatesSan Jose, CAPrivate--$500M-
CaptivateIQUnited StatesSan Francisco, CAPrivate$44M-$1.3B28.4x
WrapbookUnited StatesNew York City, NYPrivate--$750M-
FreeeJapanJapanPublicly listed$269M$15M$1.7B5.5x
DeskeraUnited StatesMinneapolis, MNPrivate--$495M-
TeamsharesUnited StatesUnited StatesPublicly listed$472M($23M)$328M0.9x

Swile Public Comps

Swile is still privately-owned, but its public comps include Fawry, Moneyview, Alkami Technology, MNT-Halan, Sunyard Technology, Worldline, AMTD Digital, Abaxx Technologies, Zip and PensionBee.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Fawry$154M$68M5.7x4.2x13.1x7.9x
Moneyview$348M$99M3.9x-13.7x-
Alkami Technology$444M($27M)3.6x3.1x(59.9x)17.4x
MNT-Halan------
Sunyard Technology$309M$10M2.0x-61.9x-
Worldline$4.5B($5.1B)0.6x0.6x(0.5x)3.6x
AMTD Digital$59M$18M19.0x-61.5x-
Abaxx Technologies$747K($28M)508.9x101.6x(13.6x)(7.7x)

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Common questions about Swile

When was Swile founded?Swile was founded in 2018.
Where is Swile headquartered?Swile is headquartered in Paris, France.
Is Swile publicly listed?No, Swile is a private, VC-backed company.
What is Swile's valuation?Swile was last valued at $1B in its Series D in October 2021.
How much funding has Swile raised?Swile has raised $326M across 4 funding rounds.
What was Swile's last funding round?Swile's last funding round was a $200M Series D in October 2021, led by Hedosophia and SoftBank Group.
Who are Swile's investors?Swile's investors include Index Ventures, Idinvest Partners, Bpifrance, Daphni, Headline, SoftBank Group, Hedosophia, Eurazeo and Kima Ventures.
What is Swile's revenue?Swile's latest recorded revenue is $23M (October 2021).
What is Swile's revenue multiple?Swile's latest valuation implies a 43.5x revenue multiple ($1B valuation on $23M of revenue).
Which companies are comparable to Swile?Companies comparable to Swile include Payactiv, CaptivateIQ, Wrapbook, Freee, Deskera and Teamshares.
How many companies has Swile acquired?Swile has acquired 2 companies, including Okarito and Vee Beneficios.
What was the largest acquisition by Swile?The $6M acquisition of Okarito in May 2022 is the largest acquisition Swile has made to date.
How many companies has Swile invested in?Swile has invested in 1 company, including Helios.do.
What was Swile's last investment?In April 2022, Swile invested in Helios.do's $10M seed round alongside Serena, Blissim, Hugues le Bret and 5 other investors.

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