Klaro, the startup that increases purchasing power » PACA economic and political newsletter

All my help becomes Klaro and accompanies his name change, raising 3 million euros from the Impact investment fund, Asterion and the Malakoff Humanis and AG2R LA MONDIALE investment funds.

This survey and this name change support a new ambition: to become the essential application that improves purchasing power and frees up administrative procedures.

An ingenious anti-inflation solution and free for users

At the rate of current inflation of 6% per year, households see an average increase in their constrained expenses of €60 per month. At the same time, each household loses €110 in aid per month, due to lack of knowledge of the aid or discouragement in the face of administrative procedures. By recouping the aid owed to them, French families could largely offset the loss of purchasing power due to inflation. It is as a Red Cross volunteer that Cyprien Boutard-Geze sees this problem of not using aid. From that finding, in 2020 he created an app that allows companies to provide their employees with a new source of income. Every employee can now get help in just a few clicks, in a single application, without effort or bureaucracy, freeing up time for the projects that really matter.

Cyprien Boutard-Geze, founder and CEO of Klaro “Most of the aid exists to reduce social inequalities or encourage virtuous projects, which contribute to the ecological transition or job creation, for example. At Klaro, we do everything to ensure that this aid reaches its beneficiaries, including those less familiar with the administrative complexity, because it is in the interest of society as a whole.” This technology is based on a sophisticated algorithm capable of simulating 1,500 national and local aids, as well as their exact value. The application makes it possible to find specific help for each employee, according to their needs, their projects and their professional situation.

More than 100 client companies and 100,000 beneficiary families

The startup has already convinced more than 100 large companies such as Vinci, BNP Paribas, Intermarché or Véolia to facilitate access to assistance for their employees. The HR or CSE of these companies sees this as a way to retain their employees, offering them a solution to carry out their personal projects and receive additional income.

To reach non-salaried populations as well, Klaro works with associations and organizations such as the Red Cross, Emmaüs Habitat or the University of Paris Saclay. A total of 100,000 families already use the app throughout the year.

3 million euros raised to change scale, with European ambition

This fundraising will make it possible to accelerate the development of Klaro to make it the essential companion of the purchasing power and better life of the French people: a single application to manage your aid, carry out your administrative procedures without bureaucracy and choose the projects in which optimally start according to your personal situation. Klaro also encourages good socio-environmental practices, highlighting little-known aids aimed at promoting the ecological transition, employment, education or access to health. In this sense, the startup aims to establish itself across borders in Europe, to perpetuate its effort. “Klaro’s success must therefore have a positive impact on society as a whole. In this sense, we chose to adopt the status of ‘Company with a Mission’ in order to never lose sight of this objective.” Cyprien Boutard-Geze To support its ambitions, Klaro, which now has 20 employees, plans to strengthen its product, marketing, sales and customer success teams. The goal is to reach 40 people by the end of the year.

Klaro, a new name to carry a new ambition

All my aids become Klaro, a new name and a new identity synonymous with the app’s evolution: clearer, cleaner and more intuitive. From now on, Klaro intends to give everyone the keys to maximize their financial well-being. This corresponds to a willingness not to see aid as an end, but rather as a means of financing projects that matter or ending the month with more peace of mind. Klaro also pursues an essential mission: to simplify the lives of the French, increasingly reducing their administrative procedures. In this perspective, new features are to be expected. So many new challenges for the growing product team! The economic model remains the same: a subscription financed by companies, 100% free for their employees (no fees, no commission on aid). Klaro integration costs €2 per employee per month.

About Asterion

Asterion is the first impact investing fund structured as a club that brings together a community of entrepreneurial investors who want to accelerate the success of early stage companies. Successful entrepreneurs; C-level start-ups and large groups use their skills, their network and their money, as a fair return to promote the development of new nuggets with impact. Asterion acts as an impact catalyst. Our ambition: to bring to light new mobilizing stories, identify and support the entrepreneurial talents of tomorrow, contribute to a systemic transformation of established sectors. Launched in April 2021, Asterion has already enabled the funding and support of 10 French startups. https://www.asterionventures.com/

Learn more: https://www.klaro.fr

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