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30 July 2018

Performance

Up group further expands its employee engagement and incentive services with the acquisition of givve in Germany

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.

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.

“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” Patrick LÖFFLER, givve co-founder & CEO givve