Backing Toduba
€3.5M to power the next-gen tech provider for corporate welfare
Rethinking corporate benefits in the future of work era
We are experiencing a radical shift in the way work is seen. In this new landscape, employee welfare is no longer a nice-to-have, it’s a strategic pillar.
Today’s companies are challenged to go beyond static benefits embracing a new model: digital, customised, and people-first. Welfare becomes more than just a perk, it’s a retention tool to improve engagement, reflecting company values.
Tech with a purpose
Toduba has the infrastructure to meet this need. Its fully cloud-native platform enables companies to manage employee’s welfare stuff in one place, such as meal vouchers, fringe benefits, gift cards and local services. Leveraging a unique app, employers can design and distribute fully customisable benefit packages, while employees enjoy a seamless, intuitive experience tailored for them.
The platform comes with a proprietary transactional engine built on private blockchain, allowing for unmatched flexibility. Benefits can be used cumulatively, fractionally, and even down to the cent, making it a top-notch solution within Europe’s fintech landscape.
Toduba stands out for its impact vocation. It empowers employees to activate their favourite shops and restaurants, strengthening local ecosystems and creating a welfare model that’s decentralised, inclusive and rooted in community.
Tapping into a high-potential market
Italy’s corporate welfare sector is still emerging with only 18% of companies currently offering structured welfare programmes, compared to more mature geographies, such as 48% in France. Yet regulatory and fiscal reforms are paving the way for digital, transparent solutions.
This evolving landscape is opening the door for innovative, real-world solutions and Toduba is leading the change. It powers top-tier HR and welfare providers such as WTW, Randstad, and Happily via its Platform-as-a-Service model and serves 2,000 companies – mainly SMEs, covering over 30,000 merchant partners across Italy.
Why we invested
Toduba is not just responding to a market trend but it’s shaping it. In just three years, it has scaled from a concept to a fast-growing platform, reshaping the way welfare is delivered across Italy. Its revenue growth, from €1.6 million in 2022 to over €40 million in 2024, reflects not just the momentum but extraordinary product-market fit.
We’re proud to support Gianluca Enrietti, Bruno Cavigioli, and the whole team as they expand their reach, enhance their product, and continue to turn welfare into a competitive advantage for businesses—and a real, daily benefit for people.