Corporate welfare, a growing sector: Satispay acquires AdvisorEat

A corporate welfare plan takes into account a multiplicity of aspects and possibilities ranging from initiatives for education and education, to social assistance, health care and supplementary welfare for employees and their families. A support for workers that has been standing in Europe for several years but that in Italy only began to move starting from the 2016 and 2017 stability laws and the 2018 Budget law which have produced an incentive in the private sector to replace to public welfare. Corporate welfare reserves benefits for both the employee and the company. From the point of view of the worker it must be considered that the value of the goods and services received in the plan prepared by the employer does not generate income, which means that it does not accumulate and remains tax exempt. For the employer, the advantage is, on the other hand, in the possibility of deducting all the costs of the services offered to employees from the taxable income of the company. In this sense, the new Report on the performance of productivity bonuses, obtained from the procedure for the electronic filing of corporate and territorial contracts that the Ministry of Labor and Social Policies activated and disclosed in January 2021, records how about 7,840 agreements active corporate and territorial, 4,515 (equal to 57.7%) envisage corporate welfare measures. Fintech companies are also moving in this direction with acquisition operations. Satispay, an Italian company that since 2013 has developed a mobile payment and money transfer system via the internet, has directed its first acquisition on AdvisorEat, the Italian startup founded in 2017 by Stefano Travaglia who has developed a service designed for consultants companies and professionals. Through the dedicated app, which selects and recommends the best restaurants – from starred cuisine to gourmet street food – members are allowed to accumulate points to be converted into gift cards, vouchers or charitable donations. AdvisorEat, has agreements with about 800 restaurants in over 40 Italian provinces including starred restaurants and well-known gourmet brands such as Joia by chef Pietro Leemann and Spazio Milano by chef Niko Romito and important catering groups such as Signorvino and the Red di Feltrinelli, and registered over 16,000 members who work for important Italian and multinational companies that have found in the service a smart and innovative tool for corporate engagement. Alberto Dalmasso, CEO of Satispay declared: “The catering sector, and food in general, represent a considerable part of our 180,000 merchants and the first product category and we have always looked with interest at services related to this area”. With the concrete possibility of “creating something of value in the world of corporate welfare, under the banner of simplification, user experience and sustainability and convenience for merchants. We will bring to the market solutions capable of responding more and more to the evolution of company policies regarding the care of their collaborators also in light of the new working methods and the clear trend that, even following the pandemic crisis, sees about half of the companies increase its commitment in this direction “. Stefano Travaglia, founder and CEO of AdvisorEat concludes: “As an entrepreneur I immediately saw the opportunity to become part of an even bigger project where, by pooling our strengths and skills, ours can find space and acceleration to grow as perhaps never before we had thought, at the same time representing the basis for the development in Satispay of a completely new business line “.