Benefits platform Ben has raised £20.8m in a Series B round to support its product roadmap and its go-to-market capabilities.
It was led by Mercia Ventures, with involvement from existing investors Atomico, Cherry Ventures, DN Capital and Seedcamp, alongside new backing from Revolut founder Nik Storonsky’s QuantumLight Capital.
Ben was founded in 2019 by Sebastian Fallert and David Duckworth and uses AI to simplify benefits management for global enterprises. Its platform consolidates benefits into a single interface, connecting employers, employees, brokers and providers.
Ben now serves businesses across Europe and North America and supports employees in more than 140 countries. Additionally, revenue has increased more than tenfold since its previous funding round, driven by demand from organisations seeking to move away from legacy systems.
The platform aims to address the complexity of managing employee benefits across multiple countries by modernising infrastructure for multinational employers, including clients such as Mondelez, Trainline, Octopus Energy, Deliveroo and Zalando.
According to Ben, the new funding will support product expansion, deepen partner relationships and extend the company’s go-to-market reach.
Ben co-founder and CEO Sebastian Fallert says: “Employee benefits have never been more important — and never harder for global employers to manage. For years, enterprises have been held back by fragmented systems and manual processes. AI changes that. It gives employers a way to tackle complexity at its source — in the rules, workflows and data that sit between HR, providers and payroll. This investment lets us bring that approach to more markets so benefits teams can spend less time on administration and more time supporting their people.”
Mercia Ventures Jonathan Kruger says: “Employee benefits are a huge expense for businesses but the current infrastructure is broken. Ben’s platform brings together employers, employees, brokers and providers to create an intelligent network that delivers value for everyone. The company is growing fast and winning against the big incumbents, and this investment will help to establish Ben as the ultimate platform for modern employee benefit management.
“We’re very excited to be working with Seb, David and the rest of the team, alongside Atomico, Cherry Ventures, DN Capital, QuantumLight and Seedcamp.”
