Yonder, the Dublin-based all-in-one platform for automating global health insurance and pension benefits, has reportedly raised €2.6 million ($2.4 million) in funding led by Northzone and Frontline Ventures to provide affordable and accessible global financial advantages for underprivileged employees.

Broadstone, Cocoa, Uncommon Projects, as well as angel investors, such as a former Workday executive, also took part in the oversubscribed round.

Yonder makes it easier for companies to offer essential benefits to workers irrespective of their locations, like pensions and health insurance.

The integrated platform collaborates with insurance and investment companies to speed up the design and ongoing administration of Vision, Dental, Health, and Pension plans for employees.

Employers can avoid time-consuming, expensive, and paper-intensive administrative hassles by allowing flexibility in allocating per-region pension contributions or health budgets.

Yonder arrives at a crucial time for organizations as the competition for talent in a hybrid workplace environment intensifies. Organizations now have the capacity to effortlessly provide key financial health benefits across multiple jurisdictions, giving them a substantial competitive advantage for luring and keeping talent.

Employees can also register in and manage their core benefits from nearby health providers in real-time using the Yonder mobile app.

Besides, employees who choose personal accounts can maintain ownership of the investment portfolios or policies even after they leave a company. This provides a seamless experience that encourages people to maintain their financial well-being, which is important since the cost of living is rapidly rising.

Yonder is presently in Beta and is adding firms to its waitlist and enrolling them on a regular basis. Businesses will shortly be able to sync with the network by integrating existing HRIS products like Humaans, Personio, or BambooHR.

The company plans to utilize the funds to quicken product development, hire for engineering and product roles as well as go-to-market and commercial positions as it grows into more established markets like the UK, Ireland, and new countries to fulfill expanding demand throughout the rest of Europe.

Source credit: https://www.eu-startups.com/2022/09/employees_benefits_fintech_yonder/