The Belgian start-up Hexeko is acquired by the French group UP. Their technology for digitizing extra-legal benefits will be offered to French customers quickly.
The agreement remained confidential for more than 6 months. Rodolphe Lechat, co-founder of the start-up Hexeko, is impatient to be able to announce the new destiny of his company specializing in the digital offer of extra-legal benefits. The young shoot from Walloon Brabant stood out two years ago by signing a contract with Monizzethe challenger in the sector of vouchers of all kinds (meals, eco and gifts), to deploy its technology and its platform for the company’s 30,000 customers. After raising 800,000 euros in 2021Hexeko is now taking on a whole new dimension.
All the shares of the start-up were acquired by Up, one of the leading players in extra-legal benefits in France. With 25 million beneficiaries in the world for its various checks and a turnover of 566 million euros in 2021, the UP group is a major player in the sector. The connection with the Belgian start-up was quite natural since the French already own the Belgian Monizze since 2015.
“We will apply our digital know-how to UP’s offering.”
Maintaining Belgian roots
Integrated into the French giant, Hexeko has quite an ambitious mission. “We are going to apply our digital know-how to UP’s offer, which will be called UpOne”, explains Rodolphe Lechat. Because if the deal has been kept secret for so long, it is to allow Hexeko to prepare for the launch of this offer for its new owner for 6 months. “The entire range of employee benefits is now grouped together in a single management solution for the company and payment for the employee. Lunch, mobility, culture, gift, all the advantages are accessible on a card and an application unique for the employee, who can spend, with or without a card, on the Visa network.” On the employer’s side, a centralized management space allows you to order any social benefit, manage your invoices and monitor beneficiary accounts.
By initially offering the solution on the French market, Hexeko should multiply by ten its number of users which today is 140,000. Then the offer should be rolled out to the rest of the markets where UP is active. Hexeko will keep its headquarters and employees in Belgium and should hire 10 new people in the coming months. Historical shareholders like Sambrinvest come out on the occasion of this takeover of the capital of the start-up.