Today European corporate HRtech startup Coverflex has announced its complete acquisition of Italian digital-only meal solution company EatsReady.
As you sit with your microwaved leftovers for lunch, it might surprise you that Italian companies commonly give their employers meal vouchers as a worker perk.
Startup EatsReady has developed a platform that issues digital meal vouchers via a handy app and connects companies, employees and businesses operating in the catering and large-scale distribution sector to create value equally towards the entire ecosystem.
The company was founded in 2017 and has over 50 active corporate clients, including Treatwell, Klarna and Telepass.
It uses an active merchant network of more than 2,000 independent restaurants, restaurant chains, supermarket chains and online delivery services, including Esselunga, Poke House and Deliveroo.
Flexing its muscle in the Italian market
Following a €15 million Series A raise last month, Coverflex is executing its commitment to international expansion. This is Coverflex's fourth acquisition since its launch in 2021 and the first in Italy.
The acquisition of EatsReady's meal voucher licence enables Coverflex to be part of the exclusive group of only ten companies in Italy that can operate in the buoni pasto market.
During 2023, Coverflex will migrate all EatsReady clients to its own welfare platform.
The decision to choose Italy as the first step in the internationalisation path of Coverflex was driven by the country's potential as a fertile market, which currently needs more flexibility and digitalisation in managing employee benefits.
Companies using Coverflex enjoy a 100% digital solution for managing benefits, discounts, and meal vouchers.
The company has already established a strong presence in Portugal, serving over 70,000 employees from over 3,600 companies.
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