Cash injection for SPENDIT AG: The company raises four million euros in a financing round with new and existing investors. The fresh capital will be used to further advance SPENDIT AG's expansion.
How SPENDIT board member Florian Gottschaller announced that Deutsche Handelsbank and a South Tyrolean investor, together with existing investors, are investing a total of four million euros in the Munich-based company. Florian Gottschaller continues:
"We grew significantly above our target last year and are already supporting over 3,000 employers of all sizes in their successful HR work with our SpenditCard and Lunchit app products. We will further accelerate this growth with the funds from this financing round. We've been on the Austrian market for almost two years and are so satisfied with our development that we're now looking at our next foreign market."
Ambitious growth targets and well-known customers
Among the existing investors, the Reimann family office is also investing.
"We are pleased that SPENDIT AG exceeded its ambitious growth targets in 2017 and was able to convince well-known customers – including REWE digital, a first savings bank, and Lufthansa, a DAX-listed company – of its products. With this financing round, the company will further accelerate its growth path,"
so Dr. Michael Riemenschneider, Managing Director of the family office Reimann Investors.
Since its founding in 2014, SPENDIT AG has been working toward the goal of making the numerous exceptions and special rules in tax law easy for companies to utilize. With its proprietary Lunchit app, for example, employers can finance their employees' lunches tax-free with up to €6.33. With the SpenditCard Prepaid Mastercard, employers can provide €708 in tax-free benefits in kind and up to €11,000 in tax-free benefits.
Offer flat-rate taxation to every employee in a straightforward manner.
