Member Article

Employee benefits startup becomes highest valued firm to launch crowdfunding campaign on Seedrs

Perkbox, the employee perks and benefits scheme, is launching a seven-figure crowdfunding raise on Seedrs which it hopes will help reach its ambitious turnover targets in the next three years.

The London-based firm, which currently counts the likes of Bupa and British Gas among its clients, already has 300,000 paying members across the UK’s business spectrum, and is looking to achieve £100m in turnover within three years.

To achieve this, the cloud-based employee engagement platform is looking to raise £1.5m from the crowd on equity crowdfunding platform Seedrs and in doing so becomes the highest valued company launch a campaign on the site.

Built around the concept of saying ‘thank you’ to employees, Perkbox gives any worker from participating businesses the power to reward positive work from colleagues with a small perk or reward, ranging from bottles of champagne to mini-breaks.

Team leaders and managers also have the ability to gift team-wide perks including trips to the cinema, gym passes and restaurant visits.

Saurav Chopra, who founded Perkbox with Chieu Cao, said employee perks and benefits can help to combat staff turnover and increase staff motivation and satisfaction.

He commented: “Perkbox is about democratisation and raising capital through the community; this is our approach to democratising funding for high-growth startups for all.

“The UK market has embraced our mantra that a happy team equals a more productive team and our first equity raise on Seedrs offers investors and customers an opportunity to be part of Perkbox’s future success.”

The startup has grown from a £350k investment from LoveFilm founder, Alex Chesterman, and angel investor Sherry Coutu, and has since taken no further investment despite growing recurring revenue to £1.4m per month in just 18 months.

Following the launch of Perkbox’s crowdfund, Chesterman said: “Perkbox empowers employers with unique tools to attract, motivate and retain employees. The employee benefits and engagement landscape is changing rapidly and Perkbox is leading the way by championing great working environments.

“The amazing growth the business is experiencing is driven by its market-leading platform that provides best-in-class benefits and can save employees thousands of pounds throughout the year. Perkbox has built a great team, culture and business in just a few short years.”