Edenred Capital Partners invests in the fleet management platform Avrios
Through Edenred Capital Partners, its venture capital structure, the Edenred
Group invests in Avrios, a fleet management platform which aggregates data,
automates processes and offers tailored mobility solutions to fleet managers.
With this investment, which is part of Avrios' Series B funding round, Edenred
Capital Partners enriches its portfolio in value-added services for
international transportation companies, a fast-growing market on which Edenred
is a leading player.
Founded in Zürich in 2015, Avrios disrupts the corporate fleet management
market by enabling fleet managers to save time and money with an intuitive
platform, which centralizes fleet expenses. Avrios' solution automates data
collection processes and provides automated analysis and meaningful insights to
turn into specific action items. Avrios manages more than 80,000 vehicles and
is used by more than 800 customers, including Alko, Deutsche Welle, DB Schenker
Philippe Dufour, Executive Vice President, Alternative Investments for Edenred
and Managing Partner of Edenred Capital Partners declares: "After our
investment in the digital freight forwarder Fretlink in April 2019, our
investment in Avrios reinforces Edenred Capital partners Fleet & Mobility
portofolio and expertise. We want to accelerate on this vertical as it
represents an interest for the Group and we can therefore trigger mutually
Andreas Brenner, CEO of Avrios adds: "We are very pleased to welcome Edenred
Capital Partners as investors in Avrios, and to see the Edenred Group, a world
leader in the fleet and mobility field, join our mission. Edenred's know how
and the additional capital will allow us to further increase the pace at which
we develop the most innovative fleet and transportation management platform for
Edenred, a world leading player in Fleet & Mobility Solutions
Edenred is a global player in Fleet & Mobility Solutions and offers both Fuel &
Fleet Solutions, covering expenses dedicated to vehicle fleet (such as fuel,
toll, maintenance, telematics and financial services) and Corporate Expense
Solutions for expenses incurred by employees in the course of their activities.
Edenred manages 2.8 million fuel cards and toll solutions accepted at 100,000
partners across the World.
This new investment bolsters Edenred's alreadyextensive ecosystem in Europe's
Fleet & Mobility Solutions market, of which the Group is the second largest
independent player, and will enable Edenred to fine-tune its expertise in this
rapidly changing sector.
Edenred Capital Partners, a focused venture capital investor
Edenred Capital Partners makes investments in innovative businesses with high
growth potential in sectors related to Edenred's activities, such as employee
benefits, Fleet & Mobility, Payment and Retail Technology. Edenred Capital
Partners leverages Edenred's ecosystem by initiating valuable synergies with
the companies and help them accelerate their commercial growth in fast
changing, competitive markets.
Avrios is the fifteenth company backed by Edenred Capital Partners since 2012.
Visit www.edenredcapital.com for more information about Edenred Capital
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
- 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
Edenred is listed on the Euronext Paris stock exchange andincluded in the
following indices: CAC Next 20, FTSE4Good, DJSI Europe and MSCI Europe.
For more information: www.edenred.com
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