ePassi acquires two key players to cement its position as Nordic champion for employee benefits with nearly 1.5 million users
by Lasse Saari
ePassi Payments Oy, the leading mobile payment solution for employee benefits and one of the fastest growing companies in Europe, has entered an agreement to acquire Sodexo Benefits & Rewards Services’ (BRS) business in Nordics, including Sodexo Pass Sweden and the Finnish company Eazybreak Oy.
Åsa Severgårdh CEO, Sodexo Benefit and Reward Services, Sweden (left), Pekka Rantala, CEO ePassi
Group and John Lindström, Managing Director Eazybreak (right).
Through these acquisitions, ePassi further strengthens its position in the Nordics, nearing a userbase of 1.5 million. The combined entity will have close to 9,000 clients, more than 35,000 affiliated merchants, and a Gross Merchandise Volume of approximately EUR 350 million.
“Demand for fully digital and mobile-based employment benefits has accelerated during covid-19 and beyond. We are extremely excited about today’s news and warmly welcome the two great teams at BRS Sweden and Eazybreak to the ePassi group. This acquisition reinforces our leadership position across wellness, healthcare, and meals; this makes us a true one-stop-shop payments provider for all our current and future clients”, says Pekka Rantala, CEO, ePassi Group.
“Eazybreak Oy and BRS Sweden will accelerate ePassi’s ambition to become the world’s leading account-to-account payments provider for employee benefits. With our new extended payments license awarded in 2020, and the recent acquisition of Gazelle winner Actiway in Sweden, we look forward to broadening the depth and breadth of our digital products and services to provide the best solution and user experience for our customers”, says Cyrus Shey, Co-Founder and Managing Partner of Bregal Milestone and board member, ePassi Group.
The ePassi Group continues its ambitious expansion in mobile wallet solutions. Over the past three years, the company has signed significant cooperation agreements with major international players, including mobile wallet giants Alipay and WeChat, while rapidly building on its explosive organic growth.
Bregal Milestone remains the majority shareholder of ePassi Payments Oy. As part of this transaction, Sodexo will reinvest and become a 15% shareholder of ePassi.
Founded in 2007 in Helsinki, Finland, ePassi Payments Oy is the leader in account-to-account mobile payments for employee benefits. The unique solution combines all benefits under one mobile application. ePassi now serves over 35,000 affiliated merchants, close to 9,000 employers and nearly 1.5 million employees. A leader in the Nordic fintech space, the company was awarded by the Financial Times as one of the fastest growing companies in Europe. www.epassi.com
About Bregal Milestone
Bregal Milestone is a European technology growth capital firm dedicated to making investments in ambitious, high-growth technology companies. The firm provides growth capital and strategic assistance to support market-leading companies in the technology and technology-enabled services sectors. Bregal Milestone is part of Bregal Investments, who have invested over €15 billion to date.
Eazybreak is a fast-growing company founded in 2009. The Service automates administration, payment and invoicing of a company’s employee’s benefits for employees and merchants alike. www.eazybreak.com
About Sodexo Benefits & Rewards Services in Sweden
Sodexo Benefits & Rewards Services (BRS) in Sweden offers employee and health related services and benefits within the meal & food segment, to help employers attract, retain, and motivate talents. With vast knowledge and insights of the value of employees’ well-being BRS creates and develops innovative solutions for a sustainable and attractive workplace for small businesses as well as for listed and multinational companies. www.sodexo.se
Pekka Rantala, CEO ePassi Group
+358 40 505 1970