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HomeFunding Vilnius-based Employee Welfare Platform MELP Secures €635k in Funding

[Funding alert] Vilnius-based Employee Welfare Platform MELP Secures €635k in Funding

Vilnius-based Employee Welfare Platform MELP Secures €635k in Funding. Business angels from Lithuania and the UK as well as venture capital firm Coinvest Capital participated in the early seed stage investment.

Vilnius-based Employee Welfare Platform MELP Secures €635k in Funding. Business angels from Lithuania and the UK as well as venture capital firm Coinvest Capital participated in the early seed stage investment.

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The co-founders of MELP are seasoned professionals with extensive experience in key employee benefits. They include Juozas Sargūnas, a seasoned professional in the health insurance market, Robertas Šaltis, founder of the insurance brokerage Balto Link and portal Draudimas.lt, and Vidmantas Šiugōdinis, a former CEO in the wellness and entertainment industries.

MELP CEO Vidmantas Šiugždinis said, “Employee retention is a growing concern globally, so we offer companies a tool to help employers take care of their employees, thereby fostering increased engagement and loyalty. We believe that in the future, companies will increasingly use personalized solutions when dealing with people, allowing their team members to choose what motivates them personally and helps in their daily lives,”.

Viktorija Trimbel, Managing Director at Coinvest Capital, who’s contribution to the investment amounts to €361,620 said, “I believe the founders’ extensive business experience, navigating different markets and managing crises with large teams, is a key driver of the company’s success. Their diverse perspectives on employee motivation systems have made the MELP platform popular in Lithuania and abroad. I’m confident that the investment will boost the platform’s profile and help it grow in foreign markets,”.

According to V. Šiugždinis, the MELP platform gives employees the capacity to select their favourite source of motivation from over 6,000 different products and services offered in the world’s e-shop, in addition to allowing companies to host employee benefits.

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About MELP

MELP for HR is an online platform that helps employers save time and money by managing and communicating employee benefits, analysing costs and usage.

Read also – London-based Labrys Technologies Secures $5.5M in Seed Funding

MELP for Employees is a mobile application that increases team engagement and motivation by letting users select benefits they want and purchase them straight from a marketplace.

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