Up group further expands its employee engagement and incentive services
30.07.2018
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Up group announces the acquisition of givve, a German
FinTech startup specializing in employee engagement and incentive solutions.
givve offers to businesses a platform facilitating, automating and optimizing the management
and distribution of employee benefits, combined with a multi-use-case payment card. This
solution strengthens the strong and meaningful bonds between a company and its employees,
which is an increasingly differentiating factor in attracting and retaining the best talents.
In 2017, givve issued prepaid cards on behalf of 6,000 clients to almost 250,000 of its customers’
employees and generated around €42 million in issue volume. Founded in 2010, the company
has 17 employees in its Munich office and generated around €2.5 million revenue in 2017.
This acquisition enables Up group to expand its service offering in Germany and, following the
acquisition of GrassRoots in Spain, to consolidate its position as an important player in the
employee engagement and incentive business.
Catherine COUPET, Up group President and CEO, stated:
"Present in Germany since 2012, we are pleased to acquire givve, which, in line with our strategic
plan, will enable us to expand our services and solutions portfolio in a promising business sector,
to the benefit of the employees’ well-being and of the enterprise performance."
Patrick LÖFFLER, givve co-founder & CEO givve, added:
"We are delighted to join Up Group and its recognized expertise in terms of employment
engagement and incentive. Its values are also a differentiating asset to develop our offer".