Swile (ex lunchr)


Why we invested

Meal vouchers are distributed in 35 countries, accounting for a €55B market worldwide. Today in France, 50% of lunches are paid through Luncheon vouchers. Aside, the lunch card market is beginning to structure itself in Anglo-Saxon countries, offering meals to employees. This, when companies want to give the same type of benefits as the big tech companies, but cannot afford an internal canteen. Paper vouchers make up for 85% of the lunch voucher market in France, and these have a daily repeat, a high lifetime value and low churn levels. 4 million people are expected to switch to a digital version in the coming 3 years. In this market, Edenred, Sodexo, Chèque Déjeuner and Natixis are the main incumbents, and even though they are all big, they are slow and far from offering an up-to-date, digitised value proposition suited for small companies. Swile (ex lunchr) challenges this market through its engaging app and card, giving employees the lunch experience they deserve!