Edenred Capital Partners
Edenred Capital Partners, operating as Edenred Ventures, is the corporate venture capital arm of Edenred SA (Paris, EPA:EDEN), the global employee benefits and payment solutions group. Founded in 2012 by Philippe Dufour and Norbert Furnion and headquartered in London, the fund invests up to EUR 10 million per company from seed to Series C in startups aligned with Future of Work, Corporate Payments, Professional Mobility, and Retail Tech themes. Managing EUR 175 million across three independent VC funds, the firm has backed over 24 companies across Europe, Israel, and the Americas.
Edenred Capital Partners is a London venture capital firm with €175M AUM, 12 active companies and 11 exits.
- ·8 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 10 realized deals: 5 years.
- ·Top sector focus: HR Tech (35% of portfolio).
- ·Fund cadence: ~5Y between vintages · last raise 2021.
Sector breakdown
23 companiesGeography breakdown
6 geographiesKey facts
Recent exits
Edenred Capital Partners sold Banked to National Australia Bank in 2026 after 4 years.
Edenred Capital Partners sold Beekeeper to LumApps in 2025 after 7 years.
Edenred Capital Partners sold Andjaro to Silae in 2023 after 5 years.
Edenred Capital Partners sold Avrios to Battery Ventures in 2023 after 4 years.
Coverage notes
3 funds tracked, 23 portfolio companies (12 active · 11 realized). Verified weekly from public filings and deal announcements.
Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
Funds & portfolio
Every fund Edenred Capital Partners has raised, with its portfolio companies. Hand-checked from public filings.
Edenred Capital Partners Fund IIIVC2021€85M7 assets1 exitsVC2021 · 5yr€85M71
Unrealized
7 heldRealized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Banked Fintech · UK | 2022 | 2026 | Trade Sale | National Australia Bank | – |
Edenred Capital Partners Fund IIVC2017€60M3 assets5 exitsVC2017 · 9yr€60M35
Unrealized
3 held| Company | Entry |
|---|---|
| BuyBox Fintech · France | 2020 |
| Fuse Universal EdTech · UK | 2019 |
| Lucky Cart AdTech · France | 2018 |
Realized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Andjaro HR Tech · France | 2018 | 2023 | Trade Sale | Silae | – |
| Avrios Software · Switzerland | 2019 | 2023 | Trade Sale | Battery Ventures | – |
| Beekeeper SaaS · Switzerland | 2018 | 2025 | Trade Sale | LumApps | – |
| Fretlink Logistics · France | 2019 | 2022 | Trade Sale | FRETBAY | – |
| Stoke (Stoke Talent) HR Tech · Israel | – | 2021 | Trade Sale | Fiverr | – |
Edenred Capital Partners Fund IVC2012€30M2 assets5 exitsVC2012 · 14yr€30M25
Unrealized
2 held| Company | Entry |
|---|---|
| AddWorking Business Services · France | 2017 |
| Beamery HR Tech · UK | 2016 |
Realized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Finsquare Fintech · France | 2015 | 2016 | Trade Sale | October | – |
| La Compagnie des Cartes Carburant Financials · France | 2014 | 2021 | Trade Sale | Edenred SA | – |
| LaunchPad HR Tech · UK | 2014 | 2020 | Trade Sale | OutMatch | – |
| ProwebCE HR Tech · France | 2012 | 2015 | Trade Sale | Edenred SA | – |
| Zenchef SaaS · France | 2015 | 2022 | Secondary | PSG Equity | – |
About Edenred Capital Partners
Edenred Capital Partners, also branded Edenred Ventures, is the corporate venture capital arm of Edenred, the global payment-solutions group. The firm is UK-domiciled, registered as Edenred Capital Partners Ltd and headquartered in London, and was founded in 2012. It operates as a corporate venture capital vehicle structured with independent venture-capital governance, and reports approximately €175 million in assets under management across its fund range as of December 2024. The vehicle was established after Edenred acquired Prepay Technologies, the company founded by the firm's founder. It functions as a strategic investor that pairs capital with access to the Edenred global commercial ecosystem rather than as an independent institutional manager, with the corporate sponsor serving as the principal source of capital.
Investment thesis
Edenred Capital Partners is a B2B venture investor backing early- to growth-stage software companies in four verticals aligned with Edenred's businesses: fintech and corporate payments covering embedded finance and card-based solutions, the future of work covering corporate benefits and employee engagement, professional mobility and fleet services, and retail technology. The firm invests from Series A through Series C, typically writing tickets of around €0.5 to €10 million and co-investing alongside other venture funds rather than leading. The limited partner base is effectively Edenred itself as the corporate sponsor. The core value-creation lever is strategic: portfolio companies gain business-development opportunities, commercial partnerships and distribution through the Edenred worldwide network, plus strategic input from the corporate alongside founders.
Recent activity
Recent investments include Beamery in HR and future-of-work software, Candex in corporate payments and fintech, Zenchef in retail and hospitality technology, and Andjaro in workforce and future-of-work software. Recent exits include Beekeeper in future-of-work software (2025), alongside earlier realisations including ProwebCE in employee-benefits software and a fleet and mobility payments business. The platform continues to deploy across fintech, future of work, professional mobility and retail technology aligned with the Edenred corporate ecosystem.
Frequently asked questions
- What investment strategy does Edenred Capital Partners focus on?
- Edenred Capital Partners focuses on VC strategies in the private equity space.
- How many portfolio companies does Edenred Capital Partners have?
- Edenred Capital Partners has 12 active portfolio companies and 11 completed exits and 3 funds tracked on GP Intel.
- Where is Edenred Capital Partners headquartered?
- Edenred Capital Partners is headquartered in London, United Kingdom.
- What is Edenred Capital Partners's assets under management?
- Edenred Capital Partners manages approximately €175M in assets under management.
- When was Edenred Capital Partners founded?
- Edenred Capital Partners was founded in 2012.
- What sectors does Edenred Capital Partners invest in?
- Edenred Capital Partners invests across Software, Financials, Business Services.
- What are Edenred Capital Partners's recent exits?
- Recent realized exits by Edenred Capital Partners include: Banked (2026) to National Australia Bank; Beekeeper (2025) to LumApps; Andjaro (2023) to Silae; Avrios (2023) to Battery Ventures; Fretlink (2022) to FRETBAY; Zenchef (2022) to PSG Equity; Stoke (Stoke Talent) (2021) to Fiverr; La Compagnie des Cartes Carburant (2021) to Edenred SA.
Similar firms
Other private equity firms tracked on GP Intel.