“miive”, which facilitates flexible system management and welfare benefits that are attracting attention by increasing human capital investment and real take-home pay, raises approximately 450 million yen in funding
miive Co., Ltd. Press release: November 12, 2024 “miive”, which facilitates flexible system operation and a welfare program that attracts attention as a way to increase human capital investment and real take-home pay, raises approximately 450 million yen in funding In addition to existing shareholders, leading domestic venture capital and business companies such as DNX Ventures, Meiji Yasuda Mirai Co-Creation Fund, Kubell Co., Ltd., and Seven Bank Co., Ltd. are newly participating >
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manufacturers with top market shares, local retailers and professional offices. The monthly usage rate of employees at companies that have introduced it is over 90%, and it has received the highest rating in the industry on review sites (*).
https://prcdn.freetls.fastly.net/release_image/74177/35/74177-35-2334db2e561b9941f566790fb810705f-1920×1280.png *Note) Awarded the No. 1 satisfaction ranking in the welfare category on the review site “ITreview” for four consecutive terms We have received high expectations from our business strategy and the “future of welfare benefits” envisioned by miive, and we have been working with companies and CVCs such as DNX Ventures, a global venture capital based in Japan and the United States, as well as Meiji Yasuda Life, kubell, and Seven Bank. We were able to raise funds from. The funds raised will be primarily invested in human resources recruitment and product expansion to further accelerate growth. In addition, we aim to further grow our business by collaborating with Kubell, which has a strong customer base among small and medium-sized enterprises, and we will also leverage synergies with Seven Bank Group’s infrastructure and Seven & i Holdings group companies, as well as Meiji Yasuda Life’s No. 1 share in the domestic market. We are also considering
collaborating with other group insurance businesses. Furthermore, in light of the fact that companies are under pressure to support their employees’ daily lives and improve their treatment as employees’ real incomes decrease due to rising prices in recent years, we have launched a service called “miive” that helps ease the financial burden of employees. We are working to further expand customer value and business opportunities, including plans to roll out “Coupons” next spring. ◼︎Background of funding | “Welfare benefits” attracting attention as an alternative to requesting a wage increase Background 1: Improving employee take-home pay due to requests for wage increases In recent years, as demands for wage increases increase, “welfare programs” that can increase employees’ take-home pay are attracting attention as an alternative to the “third wage increase.” Looking back at past history, we can see that when welfare benefits became popular in the 1980s, they spread because Japan was a country where it was difficult to raise wages, and in the early Heisei period, amid pressure to raise wages due to spring labor unions, variable expenses, which are similar to salaries, The introduction of cafeteria plans with tax benefits has progressed. This request for a wage increase also amplifies the similar need for welfare benefits on the part of companies. Background 2: Increasing importance of human capital investment Due to population decline and diversification of work styles, the importance of human capital investment is increasing. In addition to the mandatory disclosure of human capital, the lifestyles and values of employees have changed dramatically, which has further accelerated due to the coronavirus pandemic, leading to a shift from lifetime employment to a career perspective that assumes job changes, and companies are In order to improve recruitment and employee retention, there is an increasing need to invest in employees and improve engagement. For example, we can more flexibly design benefits that are unique and attractive to employees, such as extra-curricular activity allowances that encourage team building and subsidies that support a work-from-home environment, which stand out from typical rent subsidies and commuting allowances. By doing so, you will have great appeal and differentiation for recruitment and employee retention. Background 3: Small and medium-sized enterprises have high hurdles for system development and management While the need for welfare benefits is increasing, there are many options for welfare services to date that are aimed at large companies, and some say that the costs and benefits of implementing such services are difficult to justify. On the other hand, for small and medium-sized enterprises, managing the system on their own requires high management and administrative costs, and the cafeteria plans used by large companies are not a good fit in terms of functionality, making it difficult to establish a welfare system. There is a current situation.
https://prcdn.freetls.fastly.net/release_image/74177/35/74177-35-f9a9e7f3110059b9551aae786b8a0a57-904×508.png We provide unique value unique to miive to address the challenges and needs of small and medium-sized enterprises, as well as large and medium-sized enterprises. ◼︎The value provided by miive | Uniquely designed welfare system that applies to all VISA card member stores miive is working to resolve issues in this area by providing a welfare platform that supports the construction of flexible systems, which is the optimal solution for companies aiming for a unique welfare system. By collaborating with VISA card affiliated stores, there is no need to create a benefit catalog, and companies can create employee benefits, available menus, etc. on miive’s platform according to the unique systems and benefits they want to create. You can freely customize and operate the amount etc. Employees can easily take advantage of welfare benefits using smartphone apps, which also promotes the use of the system.
https://prcdn.freetls.fastly.net/release_image/74177/35/74177-35-fc164cad3c24a93aa8ef48c43307a56d-904×506.png Terms of use can be set individually according to each company’s unique system of subsidies and allowances
https://prcdn.freetls.fastly.net/release_image/74177/35/74177-35-3780aadafe688e2d10ee61e40e1c9ba0-904×506.png The employee makes the payment using the prepaid card provided by miive, and the points awarded are automatically applied and the payment is made Click here for miive service site: https://miive.jp/ ◼︎Underwriter’s comment DNX Ventures Managing Partner and Japan Representative Yo Kurabayashi / Investment VP Shuhei Nitta DNX Ventures has invested in a funding round of miive, which provides a welfare platform, with a total of approximately 450 million yen (including borrowings). Welfare programs are one of the oldest company systems, but they are attracting attention as a new solution in response to recent demands for wage increases, increased investment in human capital, and new ways of working for employees. On the other hand, designing and operating a flexible and attractive welfare program requires high operational costs, which poses a hurdle, especially for small and medium-sized enterprises suffering from labor shortages. We hope that miive’s solutions, which can reduce operating costs and efficiently build flexible welfare systems, will redefine the nature of welfare programs and lead the welfare market in Japan. Kubell Co., Ltd. Director COO Masuji Fukuda From the perspective of improving employee retention rates and strengthening recruitment capabilities, welfare benefits are becoming increasingly important for all companies, regardless of industry or size. However, there are not many welfare services that meet both the benefits expected by companies and employee satisfaction. We feel that “miive” is a welfare service that realizes the design of a flexible welfare system and is suitable for diverse human resources and diverse work styles. We are very happy to be able to work with miive to deliver valuable welfare services to many companies. Meiji Yasuda Life Insurance Company Planning Manager Junichi Ishida miive’s service is a new form of welfare that can create benefits for both companies and employees, and we were attracted to its novelty and uniqueness, so we invested in it from the Meiji Yasuda Future Co-Creation Fund. Ta. Meiji Yasuda will support miive’s further growth and look forward to working with them to create new value through collaboration. Seven Bank Co., Ltd. Seven Lab Department Investment Manager Masaka Kaneko This time, we decided to invest after receiving the Seven Bank Award at FINOPITCH 2024. We believe there is potential for Seven Bank to co-create with miive’s concept of going beyond the traditional framework of “welfare benefits” and aiming for a welfare benefits platform. Furthermore, as a member of Seven & i Holdings, Seven Bank would be happy if we could create synergies between the services provided by miive and our company and Seven & i Holdings group companies. ◼︎ Representative’s comment miive Co., Ltd. Representative Director and CEO Ren Kurita We are very pleased to have raised approximately 450 million yen in funding and aim to further grow our welfare platform “miive.” With this funding, we will expand our products and accelerate the development of new services, providing valuable solutions to more companies. We appreciate your continued support and look forward to the future of welfare benefits that miive envisions. ◼︎ Recruitment information Currently, miive is strengthening recruitment in order to further grow the service. If you are interested in miive after reading this press release, please visit the recruitment page below. (We also conduct casual interviews regardless of your intention to apply.) Recruitment information: https://hrmos.co/pages/miive ◼︎About miive miive is a new point-based welfare platform that can be used nationwide and around the world using VISA cards and apps. Companies award points by setting the stores where they can be used and how they can be used, and employees can use the points simply by making payments with a special card. We support solutions to a variety of issues, such as strengthening returns to employees in response to inflation, differentiating ourselves from other companies in recruitment and retention, realizing welfare benefits that are uniform across locations, and reviewing existing allowances. Since the service began in 2022, it has been used by more than hundreds of companies of a wide range of sizes and industries, including listed companies, manufacturers with top market shares, local retailers and professional offices. The monthly employee usage rate exceeds 90%, and while automating complex system operations, we can monitor usage status and effects in real time, supporting the creation of effective welfare programs and making valuable human investment. It will come true. Case study: https://miive.jp/casestudy-search Trade name: miive Co., Ltd. Established: July 2, 2020 Representative: Ren Kurita Head Office: Link Square Shinjuku 16F, 5-27-5 Sendagaya, Shibuya-ku, Tokyo Business content: Development and operation of welfare platform “miive” U R L： https://corp.miive.jp/ For inquiries about recruitment:
https://hrmos.co/pages/miive