Tundr closes 7.2 million euro round. Audit Quality handles tax and accounting due diligence

The Italian corporate welfare sector continues its digital evolution with significant developments highlighting the increasing centrality of this strategic tool in the corporate landscape. Tundr, the innovative startup revolutionizing the management of employee benefits in Italy, recently closed a significant 7.2 million euro seed round, confirming itself as one of the most promising players in the national fintech scene.

The startup, founded in 2022 by Giorgio Seveso, Jules Arthur Sastre, and Luca Milesi, has developed a technological solution that radically simplifies the management of corporate welfare, making benefit utilization more accessible and immediate for both employees and companies. An innovation that meets the growing digitalization needs in a market like Italy’s, which represents the fourth largest in the world after France, Brazil, and Mexico, with a total value of over three billion euros annually. Audit Quality, a company of the AQ Group, contributed to the success of the operation by handling the tax and accounting due diligence activities, once again confirming its supporting role in the Italian innovative startup ecosystem.

A strategic investment for the digitalization of welfare

The seed round was led by the Italo-French venture capital firm 360 Capital, through the 360 Digitaly fund, supported by CDP Venture Capital SGR with the Digital Transition Fund – PNRR. The operation also attracted other major investors such as Azimut Libera Impresa SGR (via the Azimut Eltif – Venture Capital ALIcrowd III and IV funds), Vento, Alecla7, Vesper Holding, and a syndicate of international business angels.

Among these are prominent figures such as Jean Canzoneri, founder of Ogury, and Carlo Enrico, former Mastercard executive, who has joined Tundr’s Board of Directors. A group of qualified investors that highlights the project’s solidity and its growth potential in the Italian and European markets.

This significant funding will allow the startup to further strengthen its presence in the Italian market, expanding its already substantial customer base and accelerating the development of new products to meet the sector’s growing needs.

The Tundr revolution in corporate welfare

Tundr stands out in the competitive landscape for its ability to radically simplify access to and management of corporate benefits, offering a comprehensive solution that integrates advanced technology and ease of use. The core of the innovation is the “Tundr Card”, which can be used on the Mastercard circuit at over 70,000 points of sale throughout Italy, in full compliance with the current regulatory framework and Tax Administration directives.

The platform allows companies to activate welfare plans with simplicity, flexibility, and without the usual bureaucratic burden. The solution integrates both the management of fringe benefits (shopping, fuel, and purchase vouchers) via the Tundr Card and more structured flexible benefits such as supplementary healthcare, pension funds, education, or mobility into a single digital experience – accessible through a single application for the first time.

Thanks to an intuitive and user-friendly interface, the platform has already exceeded 20 million euros in disbursed welfare credits, with utilization rates above 95%. In less than two years since its market launch, Tundr has become the reference point for over 400 client companies operating in the logistics, human resources, fashion, e-commerce, and manufacturing sectors, including prominent entities such as Randstad, Golden Goose and Webuild.

A hallmark of the Tundr approach is its focus on sustainability: the startup has developed a new welfare model involving the entire supply chain – people, customers, suppliers, and other stakeholders – to build an ecosystem based on social and environmental sustainability. In fact, the company carefully selects the ESG parameters of vendors where welfare credits can be used, favoring businesses committed to responsible practices.

Audit Quality’s contribution to the due diligence

A fundamental role in the success of this operation was played by Audit Quality S.r.l., a company of the AQ Group, which assisted the 360 Capital investment fund in the delicate phases of Tax and Accounting Due Diligence.

Audit Quality’s team of professionals conducted an in-depth analysis of Tundr’s tax and accounting aspects, providing investors with a clear and transparent view of the startup’s financial situation. This type of analysis is crucial in venture capital operations, where the correct risk assessment is an essential element for the success of the investment.

As Pietro Ungari, CEO of AQ Group, emphasized: “As always, we are pleased to have supported the 360 Capital team in its important project to support the Italian innovative startup ecosystem and especially in this reality that combines technology and focus on people. Tundr’s journey is truly significant. It is thanks to companies like this that in Italy we can say corporate welfare is growing exponentially in terms of innovation, competing with the international market.”

The collaboration with 360 Capital is part of the broader AQ Group strategy to support the Italian innovative startup ecosystem, helping to create virtuous connections between innovative entrepreneurs and qualified investors.

Future prospects for Tundr

With this major financing, Tundr will be able to accelerate its growth path in the Italian corporate welfare market, which still has significant room for development considering that only 25% of Italian companies currently use structured welfare tools.

The startup’s vision, as highlighted by Giorgio Seveso, CEO and co-founder of Tundr, is clear: “Today more than ever, corporate welfare gives shape and value to the context in which we work and live. It is no longer an ancillary benefit, but a powerful strategic tool aimed at projecting the bond between people and companies into the future. In a rigid and inefficient market, we have made the welfare experience truly within reach and truly accessible. With Tundr we are building an ecosystem that represents a new standard for the world of work: open, democratic, and designed around people. This round will allow us to accelerate growth in the Italian market and expand the product offering with a simple vision: making benefits accessible to everyone, anywhere and at any time.”

The path charted by Tundr represents a virtuous example of how technological innovation can transform traditional sectors, creating value for companies and concretely improving people’s lives.

Conclusions

The 7.2 million euro investment round in Tundr represents a success story of Italian innovation in the fintech sector applied to corporate welfare. The combination of technological excellence, entrepreneurial vision, and professional support has allowed for the successful conclusion of this important operation.

AQ Group, through its company Audit Quality, continues to support the Italian innovation ecosystem, offering high-quality professional services that contribute to the success of strategic operations like this, acting as a reliable partner for innovative startups and investors seeking growth opportunities in the Italian entrepreneurial landscape.

Did you know that…?

1. Corporate welfare in Italy is worth over 3 billion euros per year, representing the fourth largest market in the world after France, Brazil, and Mexico [Source: Corporate Welfare Observatory, https://www.osservatoriowelfare.it/].
2. Only 25% of Italian companies currently adopt structured corporate welfare tools, highlighting widespread market growth potential [Source: Welfare Index PMI Report 2024, https://www.welfareindexpmi.it/].
3. The most requested benefits by Italian workers include supplementary healthcare (68%), meal vouchers (65%), and flexible hours (59%) [Source: Randstad Workmonitor Survey 2024, https://www.randstad.it/].
4. The digitalization of corporate welfare can reduce administrative costs by up to 40% and increase the benefit utilization rate by 30% [Source: Digital Innovation Observatories, Politecnico di Milano, https://www.osservatori.net/].
5. Fintech startups in Italy raised over 400 million euros in 2024, with a 25% increase compared to the previous year [Source: Italian Tech Alliance, https://www.italiantechalliance.com/].
6. Companies investing in welfare programs record productivity increases of up to 15% and staff turnover reductions of up to 25% [Source: AIWA – Italian Association for Corporate Welfare, https://www.aiwa.it/].

FAQ

1. What is Tundr and what service does it offer? Tundr is an innovative startup that simplifies corporate welfare management through a digital platform and a card usable on the Mastercard circuit. The solution allows companies to activate welfare plans with simplicity, managing both fringe benefits and more structured flexible benefits in a single digital experience.
2. What are the main advantages of the Tundr solution? The main advantages include simplicity in activating and managing welfare plans, high flexibility, reduced bureaucracy, an intuitive user experience, and the possibility of using benefits at over 70,000 points of sale. The platform also allows integrating different types of benefits into a single app, from purchase vouchers to supplementary healthcare.
3. Who are the main investors that participated in the 7.2 million euro round? The round was led by the Italo-French venture capital firm 360 Capital, with the participation of CDP Venture Capital SGR, Azimut Libera Impresa SGR, Vento, Alecla7, Vesper Holding, and a syndicate of international business angels, including Jean Canzoneri and Carlo Enrico.
4. What are Tundr’s next goals after this investment round? With the funds raised, Tundr aims to strengthen its presence in the Italian market, further expand its customer base, and accelerate the development of new products, maintaining the vision of making benefits accessible to everyone, anywhere and at any time.
5. What was the role of AQ Group in the operation? Audit Quality, a company of the AQ Group, assisted the 360 Capital investment fund in the Tax and Accounting Due Diligence phases, providing an in-depth analysis of Tundr’s tax and accounting aspects, a decisive element for the investment’s success.
6. What is the “Tundr Card” and where can it be used? The “Tundr Card” is a card that can be used on the Mastercard circuit at over 70,000 points of sale throughout Italy. It allows managing fringe benefits such as purchase vouchers, fuel, and shopping, in full compliance with the current regulatory framework and Tax Administration directives.

Sources

1. Tundr – https://www.tundr.it/
2. 360 Capital – https://www.360capital.vc/
3. CDP Venture Capital SGR – https://www.cdpventurecapital.it/
4. Azimut Libera Impresa SGR – https://www.azimutliberaimpresa.it/
5. AIWA – Italian Association for Corporate Welfare – https://www.aiwa.it/
6. Corporate Welfare Observatory – https://www.osservatoriowelfare.it/