EDENRED (EPA:EDEN) - Edenred: Edenred Capital Partners invests in Fuse Universal
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26/06/2019 08:45
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Press release
June 26, 2019
EDENRED CAPITAL PARTNERS INVESTS IN FUSE UNIVERSAL
Via its venture capital structure, Edenred Capital Partners, the Edenred Group,
the world leader in payment solutions for the working world, takes a minority
stake in the leading next- generation workplace learning technology Fuse
Universal. This investment aims to leverage Edenred's strong expertise of the
working world and its unique access to more than 830,000 companies, to help
Fuse further develop its operations in Europe, North America and Asia
Pacific.
Created in 2008 and based in London, Fuse is changing the face of Learning &
Development, enabling companies to build a culture of continuous learning that
delivers measurable business performance results. Its next-generation
mobile-first platform is used by over 130 customers, including Spotify, Adidas,
Scandic and Vodafone, and representing millions of users globally.
Fuse's community-led design lets companies unlock the knowledge, skills and
insights of their top-performing employees to teach and engage their teams
worldwide, cultivating best practices across the business. Fuse's blend of
machine learning, AI and tools seamlessly integrates with existing enterprise
systems, while also supporting traditional learning content and courses.
This operation follows last year $20m investment from Eight Roads Ventures and
will support Fuse's strong ambition to become a leader in the $200bn corporate
learning market. Delivering a strong personalised learning experience, Fuse
fully answers employees' growing training and development needs, and will help
Edenred expand its offering, better address and engage its end-users and
develop innovative transactional solutions for the industry.
"We are delighted to partner with Fuse in its journey to educate and engage
millions of employees globally. This new investment demonstrates our
willingness to get a better grasp on how technology improves employee
development in an ever more mobile world of work, and Fuse perfectly fits with
our ambition to be the everyday companion for the working world." declared
Philippe Dufour, Executive Vice President, Alternative Investments for
Edenred.
"We are excited to welcome Edenred Capital Partners as investors in Fuse
Universal. It was clear from very early that there was good alignment between
our vision and Edenred's experience, reach, resources and network, which will
allow us to accelerate our growth plans especially within regional markets
where we are young, and they are well established. Having Edenred Capital
Partners as an investor and advocate will open up new opportunities for us as
we expand our footprint in the HR market.", said Steve Dineen, Founder and CEO
of Fuse.
Edenred Capital Partners supports innovative companies with high growth
potential, in areas related to the Group's activities. The objective is to
enrich Edenred's ecosystem while initiating valuable synergies with the
companies supported. Edenred Capital Partners has notably invested in Fretlink,
Andjaro and Zenchef in France, Beamery in the United Kingdom, Beekeeper in
Switzerland and Candex in the United States.
Edenred, the global leader in payment solutions for the working world, connects
830,000 corporate clients, 47 million employee users and 1.7 million partner
merchants across 46 countries. Thanks to its global technology platform, the
Group managed 2.5 billion transactions in 2018, primarily carried out via
mobile applications, online platforms and cards, and representing more than
EUR28 billion in business volume.
Edenred's 8,500 staff are driven by a commitment to improving
employees' quality of life, increasing companies' efficiency and boosting
merchants' revenues. They achieve this through three business lines:
- Employee Benefits (food, meals, well-being, leisure, culture and human
services)
- Fleet & Mobility Solutions (fuel, tolls, maintenance and business travel)
- Complementary solutions, including Corporate Payment Services (virtual
payment cards, identified wire transfers and supplier payments), Incentives
& Rewards (gift cards and platforms, and incentive programs), and Public
Social Programs.
Edenred is listed on the Euronext Paris stock exchange and included in the
following indices: CAC Next 20, FTSE4Good, DJSI Europe and MSCI Europe.
For more information: www.edenred.com
The logos and other trademarks mentioned and featured in this press release are
registered trademarks of Edenred S.A., its subsidiaries or third parties. They
may not be used for commercial purposes without prior written consent from
their owners.
CONTACTS
Media relations
Anne-Sophie Sergent
+33 (0)1 74 31 86 27
anne-sophie.sergent@edenred.com
Matthieu Santalucia
+33 (0)1 74 31 87 42
matthieu.santalucia@edenred.com
Investor and Shareholder Relations
Solène Zammito
+33 (0)1 74 31 88 68
solene.zammito@edenred.com
Loïc Da Silva
+33 (0)1 74 31 87 09
loic.dasilva@edenred.com