P101 Sgr invests in the scale-up Toduba
The company, which has raised 7 million so far, has achieved a turnover of 40 million in three years
by Mo.D.
3' min read
3' min read
Toduba, a scale-up from one million to over 40 million in turnover in three years, raised 3.5 million from P101, bringing its total collection to around 7 million. The tech provider of corporate welfare (potential market of around EUR 80 billion) has more than 150,000 active users on the platform, 30,000 affiliated businesses, agreements with 80% of large-scale retail operators and 2,000 corporate customers.
"We are proud that an important fund like P101 has understood our vision and chosen to accompany us in this growth phase. Their entry is a confirmation that Toduba's model - open and scalable - is today the concrete answer to a welfare that is changing to be more and more transparent, flexible and of value through local growth opportunities. We have built a unique technology to concretely make the person the centre of corporate welfare, and now, with this investment, we can accelerate to expand our services and offer these opportunities in Europe as a natural horizon for development,' comments Gianluca Enrietti, ceo & co-founder of Toduba.
P101 joins investors who had already believed in Toduba's vision, such as CDP Venture Capital SGR through the Fondo Rilancio Startup.
The goal of the round
.The investment round will allow Toduba to further expand the solutions offered and the network of affiliated establishments, but also to accelerate organic and external growth, adding complementary services in the world of flexible benefits, and to launch international growth. This expansion is part of a market with wide margins for growth: the meal vouchers sector in Italy is worth over EUR 4 billion, but its overall potential exceeds EUR 33 billion; corporate welfare exceeds EUR 5 billion, but has an unexpressed potential of over EUR 27 billion. Finally, the gift card sector is booming, with an expected annual growth of 14% until 2028, reaching EUR 16 billion, according to Deloitte data.
P101's investment
.With this operation, P101 SGR finalises the thirteenth investment made through Programma 103 and Azimut Eltif Venture Capital P103. In particular, Programma 103 is also supported by the European Union through the InvestEU Fund and by Cdp Venture Capital Sgr also through the Digital Transition - PNRR fund, which uses the resources allocated by the EU through the NextGeneration EU initiative, with the aim of fostering the digital transition of supply chains and small and medium-sized enterprises.
