Olenbee raises €7m Series A to modernize employee benefits
The French fintech links employee benefit reimbursements to existing bank cards, with funding for platform development and expansion in France.
Benefits without a separate payment card
Olenbee connects an employee’s existing bank card to its app. When an employee pays at an eligible merchant, the platform identifies the qualifying purchase, applies the employer’s contribution and reimburses the employee’s bank account. Employers can offer benefits such as meal vouchers without issuing a dedicated card or restricting employees to a closed merchant network.
The €7 million Series A will support digitizing employee-benefit offerings, expanding the platform’s technology and accelerating market penetration in France. The model depends on linking employer benefit rules to everyday transactions, so expanding its reach means bringing more employers and local merchants into the same workflow.
Use of funds
Digitize employee-benefit offerings
Expand technology infrastructure and platform capabilities
Accelerate market penetration in France