MELP Secures €635K Investment to Expand Employee Benefit Platform
Vilnius-based MELP recently received a significant investment of €635K. This funding comes from Coinvest Capital, a venture capital fund, and a group of business angels from Lithuania, the UK, and Lithuanian Business Angel Network LitBAN. MELP’s platform offers companies a tool to manage employee benefits while giving employees access to thousands of goods and services through an international e-shop, allowing them to choose their preferred perks. The company aims to address the global challenge of retaining employees by fostering better engagement and loyalty among staff. With this funding, MELP intends to expand its platform’s capabilities, reach new international markets, and improve its services for businesses of varying sizes, ensuring continued growth and success.
Vilnius-based MELP Aims to Address Global Employee Retention Challenge
Employee retention is a growing concern globally, and Vilnius-based MELP is on a mission to help companies address this challenge. The company’s platform offers a solution for employers to take care of their employees by providing a tool to manage employee benefits. This approach fosters increased engagement and loyalty among staff members. By giving employees access to a wide range of goods and services through an international e-shop, MELP enables them to choose their preferred perks. The company firmly believes that personalized solutions that allow employees to select what motivates them personally and helps in their daily lives will be increasingly adopted by companies in the future.
MELP Co-founders Bring Extensive Experience to Employee Benefits Platform
MELP’s co-founders are seasoned executives with a wealth of experience in key employee benefits. Vidmantas Šiugždinis, the former CEO in wellness and entertainment industries, Robertas Šaltis, the Founder of the insurance brokerage Balto Link and portal Draudimas.lt, and Juozas Sargūnas, a veteran professional in the health insurance market, combine their expertise to drive the success of MELP’s platform. Their diverse perspectives on employee motivation systems have made the MELP platform popular in Lithuania and abroad. Their extensive business experience, navigating different markets and managing crises with large teams, has positioned MELP as a leading player in the employee benefits space.
Coinvest Capital Backs MELP with €361K Investment for Expansion
Coinvest Capital, a venture capital fund, has played a crucial role in MELP’s recent investment round. The fund has contributed €361,620 to support the expansion of MELP’s employee benefit platform. With this investment, MELP plans to enhance its platform’s capabilities, reach new international markets, and improve its services for businesses of all sizes. Coinvest Capital believes in the founders’ extensive business experience and their ability to navigate different markets and manage crises with large teams. The fund is confident that this investment will contribute to the growth of MELP’s platform in foreign markets.
MELP’s Diverse Platform Empowers Employees with Personalized Benefits
The MELP platform, launched in early 2022, has experienced successful growth in the Baltic countries and is now poised for expansion into international markets. The platform’s diverse offerings in consumer services are reflected in its name, which stands for Medical services, Employee benefits, Lifestyle & Longevity, and Protection. The platform enables companies to host employee benefits while empowering employees to choose from over 6,000 different goods and services available in the international e-shop. By allowing employees to select their preferred form of motivation, MELP fosters increased engagement and loyalty among staff members. The platform’s universal applicability serves clients ranging from a few dozen employees to several thousand, making it popular among organizations of varying sizes. MELP’s commitment to information security is demonstrated by its ISO 27001 certification, ensuring the protection of sensitive data.
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Analyst comment
Positive news: MELP has secured a €635K investment to expand its employee benefit platform. This funding will help MELP improve its services, reach new international markets, and address the global challenge of retaining employees. With personalized benefits and a diverse platform, MELP aims to foster better engagement and loyalty among staff members. The company’s co-founders bring extensive experience in employee benefits, positioning MELP as a leading player in the industry. Coinvest Capital’s investment further supports MELP’s expansion plans. Overall, this news suggests positive growth and success for the market.
