Edenred : Betterway raises €4 million in funding from Edenred to accelerate the development of sustainable corporate mobility

Press release

Paris, 19 January 2023

Betterway raises €4 million from Edenred to accelerate the development of sustainable corporate mobility

Betterway, a pioneer in enterprise mobility transitions, has opened its capital to Edenred, the world leader in dedicated payment solutions. The two companies have been partners since September 2022. This new alliance will reinforce their strategic vision. At the same time, Betterway received €4 million in funding from Edenred to accelerate its development in the employee benefits market.

Founded in 2019, Betterway is a French fintech company. first employee mobility account. Betterway helps companies finance their employees’ travel (by bike, subway, car-share or scooter). sustainable mobility accessible to all. With Betterway, every employee has physical and virtual card More than 8,000 bike shops are accepted by mobility vendors in France, including public transport operators and shared mobility providers.

Thanks to the new funding, Betterway will be able to expand its business, allowing employers. a simple way to finance employee EV charging or energy. Betterway will also be able to implement “mobility loan” solutions to employees as an alternative to a take-home vehicle. In addition, Betterway will be able to leverage Edenred’s sales and marketing resources to quickly reach tens of thousands of corporate customers in France.

Edenred strengthens its leadership position in the employee benefits market by contributing to the development of Betterway. The joint Edenred-Betterway mobility offer will provide the Group’s customers with the most comprehensive and innovative enterprise solution in France.

In addition, the alliance between Betterway and Edenred will allow both companies to enhance their existing platforms, including a wider acceptance network. systematic network updates through the community and the option to split the spending among several users.

Ilan Ouanounou, Managing Director of Edenred FranceHe said: “This alliance with Betterway will make our current partnership with the sustainable mobility pioneer stronger and more resilient. At Edenred, we firmly believe that mobility issues will be of paramount importance in the future. As a leader in employee benefits, we provide opportunities for both workers and employers. Our mission is to offer the widest range of solutions available. That’s exactly our goal with Betterway.”

Denis Saada and Alain Mady-Fetherstone, Founding PartnersBetterway’sHe said: “Employee travel has become a core issue for companies’ recruitment, management and CSR strategies. With this new financing, we will be able to work with Edenred to offer a wide range of eco- and budget-friendly mobility solutions. France’s sustainable mobility allowance

commute grants and mileage allowances. This alliance also opens up international possibilities, as Edenred operates in more than 45 countries.”

The Betterway-Edenred alliance was formed amid high inflation and the renewed need for energy savings, which makes employee benefits and green mobility solutions even more attractive. These benefits address the economic and management issues that are fundamental to corporate social responsibility. With 30% of corporate CO2 emissions from commuting and business travel currentlycompanies and their employees need new, efficient and practical alternatives.

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About Betterway

Betterway is a French fintech company founded in 2019 by Denis Saada (CEO) and Alain Mady-Fetherstone (COO). Betterway has developed the first universal employee mobility card that allows companies to create mobility accounts for their employees and implement a well-rounded mobility policy with Human Resources (HR) and Corporate Social Responsibility (CSR) benefits. Whether it’s bikes, subways, car-sharing or trips using shared electric scooters and mopeds, Betterway allows companies to make a more comprehensive financial contribution to their employees’ travels through France’s sustainable mobility allowance, mobility loan, commuting grants, bike mileage allowance. and other schemes.

About Edenred

Paradise It is a leading digital platform for services and payments and the daily companion of people at work, connecting 52 million users and more than 2 million partner workplaces in 45 countries through 950,000 corporate customers. Edenred offers food (such as meal bonuses), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions), and corporate payments (such as virtual cards). The group’s “Enrich connections. For good.” In keeping with their purpose, these solutions increase users’ well-being and purchasing power. They increase the attractiveness and efficiency of companies and stimulate the employment market and local economy. They also promote access to healthier food, more environmentally friendly products and smoother mobility. Edenred’s

10,000 employees are committed to making the business world a safer, more efficient and more responsible connected ecosystem every day. Thanks to its global technology assets, the Group managed a business volume of nearly 30 billion euros in 2021, mainly through mobile applications, online platforms and cards. Edenred is listed on the Euronext Paris stock exchange and is included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

Media link

Press Mobility

Florence Faure – [email protected]

+33 (0)6 71 07 19 50

Edenred media communication

Johanna Quast- [email protected]

+33 (0)1 86 67 23 19