The French startup Spayr, which offers a budget support platform which aims to help employees protect themselves from financial unforeseen circumstances, has just announced that it has raised 2.5 million euros in funds. Business Cool spoke with Paul Riché, co-founder of Spayr. The latter revealed his journey to us as well as his future projects!
Everything you need to know about Spayr
Who are you ?
My name is Paul Riché, I am 30 years old, I graduated from Emlyon and I am one of the co-founders of the startup Spayr. I started my career in the field of finance then in a firm specializing in digital. Personally, I have always been attracted to entrepreneurship in order to offer concrete solutions to problems shared by a large number of people.
What does Spayr do?
Spayr is a budget support platform to help employees deal with financial unforeseen circumstances. We offer very simple solutions on an app to improve access to remuneration in business (salary on demand in two clicks, redemption of RTT, monthly payment of the 13th month) and to improve the management of expenses (budgetary coaching, renegotiation of contracts…).
Our platform creates a virtuous circle between companies and their teams: by offering our solutions, they stand out and strengthen their attractiveness, while personalizing their salary policies as much as possible to meet the specific needs of their employees. Today we have around twenty client companies, mid-sized companies and major accounts, for overall coverage of around 30,000 employees. A company with a mission, we monitor a certain number of key indicators on bank overdraft and budget management assistance which allows us to trace our impact on a day-to-day basis.
Spayr’s fundraising
Why did you raise 2.5 million euros?
This fundraising aims to accelerate commercial development, support product development and new turnkey tools for employees (repurchase of RTT on request, monthly payment of the 13th month, etc.), and to strengthen its workforce with 10 new recruits by the end of the year.
Why did you choose to bring these investors into your capital?
Spayr has chosen to bring Blast.Club, Femmes Business Angels and business angels into its capital.
We have succeeded in bringing together extremely complementary investors around us who have in-depth knowledge of HRTech and Fintech issues and who share our long-term vision: putting people back at the heart of salary policies and personalizing access to remuneration to respond to the specific needs of each person.
What will Spayr look like in 5 years?
We are in the process of developing a suite of digital solutions around compensation, in order to personalize corporate salary policies as much as possible and strengthen the purchasing power of employees. In the medium term, we aim to become the benchmark SaaS platform in Europe for employee engagement around compensation.
