Pirkx has completed a £3 million pre–Series A fundraise ahead of expansion into South Africa.
The wellbeing platform’s benefits cover health, wealth and education and include on-demand GP services, discounted private health cover, counselling and mental health support, shopping discounts and skills training courses.
Pirkx said this latest investment will enable its team to kickstart plans to further enhance the product offering and to expand Pirkx’s reach. The firm revealed that having already launched in Australia in 2020, entry into South Africa is next on the agenda, with headcount set to triple across all divisions.
The funding round was led by NoBa Capital. Other investors include Joyance Partners, Love Ventures, 1818 Ventures, Vala Capital and Capital Pilot Boost Fund. The fundraising takes the total investment to date to £4.2 million with a Series A fundraise expected in the short/medium term.
Stella Smith, founder & CEO of Pirkx, said: “This fundraise means a lot. It is validation that what we are building is solving a genuine and far-reaching problem which, for too long, has been left unaddressed. Just 9% of the 3.2 billion workers globally have access to a workplace wellbeing programme. That’s almost 3 billion people who can be locked out of affordable and potentially life changing services due to factors which, until now, have been out of their control. Me, my team, and our investors are excited to make a difference for as many people as possible as quickly as we can.”
Kevin Fuller, partner at NoBa Capital, said: “Until now, meaningful employee benefits were reserved for the biggest firms with the budgets to spend on giving staff a better working environment, but they have been out of reach for so many. Pirkx is tackling this problem head-on, with a mission to democratise these benefits for people all round the world. We are delighted to have led this round and look forward to working with Stella and her team in the years ahead to deliver this vision.”
Dan Cobley, chairman of Pirkx, added: “It is a pleasure to be doing my bit to maximise the potential of this product. During my many years in the industry, there is nothing more rewarding than when you get to work with a team who cares passionately about the positive impact technology can have on the world and Pirkx is one such story.”