Why Unicorn Swile Redeems Okarito

Her ” super app “, as Loïc Soubeyrand calls it, is still in the test phase but on his calendar, the founder of the Montpellier unicorn Swile plans to launch it during the first half of 2022. While Swile (then named Lunchr) had Concentrated, when it was created, on the lunch break and quickly on the dematerialized meal voucher, it has since positioned itself on the employee benefits market (meal vouchers, gift vouchers, mobility vouchers, etc.) and develops this application that she wants to be the HR toolbox.

And Swile has just added an additional tool by buying the Parisian startup Okarito. Founded in 2018 by Rémi Duvoux and Brice Huet, Okarito has developed a professional travel booking platform (hotel, plane, train and car rentals), offering centralized management that eliminates expense reports in a single interface. . The startup, which employs 17 people, announces 500 customers, including Payfit, Bio C Bon, Welcome to the Jungle, Amundi, SoPress or Winamax.

Loïc Soubeyrand does not specify the amount of turnover achieved by Okarito. Just as he does not comment on the figures of 56.15% of the capital acquired for the sum of 3.37 million euros…

Swile takes over the 17 employees “ and we are even going to invest, in particular by recruiting “, adds the Montpellier leader, who specifies that the co-founders remain in control.

Swile’s workforce now stands at 700 employees in France and Brazil, approaching the ambition to increase to a thousand by 2022 as announced by Loïc Soubeyrand at the time of his 4th fundraising ( Series D) of €175 million in October 2021.

The end of expense reports

With 15,000 train stations covered, 400 airlines, 2 million partner hotels and 120 countries available for booking rental vehicles, the Okarito platform offers a wide choice and ” guarantees the best prices on the market “Promises Loïc Soubeyrand.

On the same interface, an employee can thus compare thousands of offers, book, modify or cancel his reservation for one or more people, and benefit from internal customer service based in France. The solution also makes it possible to delete expense reports by centralizing payments on the company’s account. On the HR side, it’s the end of the management of expense reports, with the possibility of setting up budget and invoicing rules.

With this acquisition, we are strengthening our value proposition in the business travel segment, an essential step when we know that 70% of business expenses come from business travel, says Loïc Soubeyrand. This subject of business travel is therefore high on the list of priorities! Employees point out that making advances and expense reports for small amounts is acceptable, but when it comes to booking a hotel room or transport, it can quickly add up… The small business market is underrepresented because in general, they are not equipped with tools, and in large groups, they are equipped but with unsuitable and obsolete solutions. »

From fintech to worktech

The Okarito solution will therefore join the Swile super-app.

“With this takeover, we thus confirm a little more our evolution from the status of fintech to that of worktech”, emphasizes Loïc Soubeyrand.

Before its 4th fundraising, Swile raised 15 million euros (seed/series A) in 2018, 30 million euros (series B) in 2019 and 70 million euros (series C) in 2020. The company operates in France and Brazil, where it announces 750,000 users and 25,000 corporate clients (including Carrefour, Le Monde, PSG, Airbnb, Spotify, Red Bull or TikTok).

The acquisition of Okariko is its 4th external growth operation for Swile after the acquisition of Sweevana in September 2020 (gift voucher solution for social and economic committees), Briq in November 2020 (measurement and management of commitment) and the Brazilian startup Vee Beneficios in February 2021 (dematerialized services for employees).

We are continuing to enrich our value proposition and there are still many segments to cover, such as training or the administrative side, says Loïc Soubeyrand. We will do it but it will not be systematically through external growth. We are also building a strong ecosystem of partners who can connect their solution to Swile’s super-app. »