€11.6m · Series A · Fintech · Milan, Italy
Milan-based Tundr has raised €11.6m in Series A financing to expand its corporate-welfare platform and make the technology available through more financial and HR distribution partners.
CDP Venture Capital joined the shareholder base, while existing investors 360 Capital and Azimut renewed their backing. Kairos Partners, Crédit Agricole Italia, Sella Direct Ventures and a group of technology and finance entrepreneurs also participated.
Tundr combines a payment card, mobile app and HR console. The company says it now manages benefits for 2,000 businesses and more than 100,000 employees, after three years of roughly 200% annual growth.
Partner distribution turns a product into infrastructure
Tundr initially sold employers a visible employee product: a card and app backed by an HR administration layer. Opening that stack to welfare providers, banks, insurers, staffing agencies, labour consultants and payroll companies changes the route to market. Those partners already sit inside employer workflows and can embed benefits without every customer buying directly from Tundr.
The opportunity is broader distribution, but the product burden also rises. Each channel brings its own compliance, payroll and service requirements. Tundr's next test is whether a common platform can support those differences without becoming a collection of custom integrations; success would make transaction and subscription revenue scale through partners rather than only through its own sales team.
Sources checked: Tundr company announcement; Tundr product site; Tech.eu Funding Explorer.
