Italian fintech startup Smartwage has raised €2 million in a pre-seed funding round to modernise corporate welfare systems and improve how employees access and use their benefits.
The round was led by Step Fund, managed by Alternative Capital Partners SGR. The investment includes an initial €1 million, with an additional €1 million set to be deployed over time based on performance milestones and growth targets.
Rethinking Corporate Welfare
Founded in 2024 by Marco Gambardella alongside Felice Cupane and Francesco Varuzza, Smartwage is targeting Italy’s €7 billion corporate welfare market—where less than half of employees currently benefit from available programs.
The company highlights a key inefficiency: more than 20% of allocated welfare budgets go unused each year due to restrictive systems that limit spending to predefined vendor networks.
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From Rigid Systems To Flexible Benefits
Smartwage aims to remove these constraints by allowing employees to spend their welfare credits freely with any merchant. Its platform integrates regulated digital payment tools—including cards and bank transfers—with an AI-powered “welfare coach” designed to support both employees and employers.
This approach transforms traditional benefits into a more flexible, personalised system, helping companies increase utilisation while improving employee well-being.
AI-Driven Infrastructure
At the core of the platform is a scalable infrastructure that combines payments and artificial intelligence into a unified system. By automating compliance, analysing usage data, and continuously optimising its models, Smartwage aims to reduce complexity for employers while delivering a better user experience for employees.
The company is also supported by Zest, which provides guidance in governance, financial planning, and access to investor networks.
Scaling Product And Market Reach
With the new capital, Smartwage plans to accelerate product development, strengthen its go-to-market strategy, and further enhance its AI capabilities.
The company is positioning itself to address a broader structural issue in Italy, where many employees lack access to welfare programs despite growing financial pressure—creating an opportunity for more inclusive and efficient solutions.
About Smartwage
Smartwage is an Italian fintech platform designed to improve employee well-being by enabling flexible and intelligent use of corporate welfare benefits. By combining digital payments with AI-driven insights, the platform increases purchasing power beyond salary while simplifying benefit management for employers and employees alike.
