Epassi enters one the most rapidly growing employee benefits markets in Europe by acquiring Eudaimon S.p.A., the leading Italian company in corporate welfare. Epassi’s digital capabilities enable great scaling opportunities and new possibilities for Eudaimon in Italy. The Italian acquisition follows Epassi’s expansion to the UK earlier this year and paves the way for Epassi’s further growth in Europe.
In 2022 Epassi passed the EUR 500 million GMV (Gross Merchandise Value) mark, representing 40 % growth year-on-year.
Eudaimon is the leading provider of corporate welfare in Italy, including e.g., day-care for children and elderly-care for family members. Through the acquisition, Epassi gains access to a customer-base of more than 750 companies and a user-base of over 600 000 employees.
- During the recent years we have solidified our position as the number one player in the employment benefit market in Northern Europe. This year has become the right time to go beyond Nordics. Earlier this year we entered the UK market, and now we are super excited to partner with Eudaimon and enter Italy, one of the fastest growing employment benefit markets in Europe. Eudaimon’s existing portfolio and strong position and reputation in the Italian market is a perfect fit with Epassi's market-leading digital payments platform and scaling capabilities. For our clients and partners in Italy, this means new and improved solutions in the future, says Pekka Rantala, Group CEO of Epassi.
The acquisitions follow Epassi’s strong growth in the Nordics. This progress was once again acknowledged by the Financial Times who listed Epassi as one of Europe's fastest growing companies – for the third time in past 5 years and second year in a row. Epassi was among the only one third of companies able to renew their place on the FT1000 list, while also being the 17th largest of all high-growth companies listed.
The key to Epassi’s success as a trailblazer lies in the company’s digital capabilities, strong engagement with users, customers, and merchants, and ability to add value and introduce new products to the market swiftly and continuously. Together with Eudaimon, Epassi believes to have the right solution to the rapidly growing Italian market as well.
- We are very excited to join the Epassi family, since we believe this partnership represents a fantastic opportunity to boost our businesses. Epassi’s outstanding digital capabilities, technology, and payment solutions will be the key to keep on leading the Italian employee benefits market. Also, our expertise and competence in social welfare will surely be a strong asset for Epassi in Europe, says Alberto Perfumo, CEO of Eudaimon.
Epassi, founded in Finland in 2007, has disrupted the Nordic employee benefit market with a fully mobile approach. Now is the time to do the same in Europe.
- We feel privileged and excited to start our partnership with Eudaimon, and we warmly welcome the passionate Eudaimon team to the Epassi family. Going forward, we are looking forward to serving our Italian clients with even better innovative digital value adding solutions, and to boost the everyday wellbeing of hundreds of thousands, and soon millions, of Italians. We are thrilled to find synergies between different markets and that way add more value to our customers and users in all countries we operate in. We’re on our journey to become a leading pan-European benefit player, concludes Rantala.
About Epassi.
Epassi, founded in 2007 in Helsinki, is a market leader in employee benefits within the Nordics and the UK. The unique and scalable solution drives mobile tech and payment solutions to open-up a world of health and well-being possibilities, combining all benefits in one user-friendly service.
Epassi Group is Europe’s leading digital solution for employee benefits, with a reach of nearly 13 million users, over 13 500 employers, and more than 59 000 service providers. Epassi is a trailblazer fintech company in the Nordic countries and has been awarded by the Financial Times as one of the fastest growing companies in Europe in 2022 and 2023.
Epassi – Boosting everyday well-being.
www.epassi.com