Amsterdam-based travel risk management software company WorkFlex has raised €37 million in a growth investment from Spectrum Equity, with additional support from Visionaries Club and s16vc.
- Established in 2022 by Pieter Manden and Patrick Koch, WorkFlex automates cross-border business travel and workforce mobility compliance. The system processes more than 100,000 trips annually across over 1,000 country combinations, handling the legal and regulatory requirements companies face when employees work internationally.
- WorkFlex’s core technology is a compliance risk engine that manages tax obligations, social security, immigration rules, and labor law requirements. It automates processes such as A1-Certificates, Certificates of Coverage, Posted Worker Directive notifications, visas, and tax exposure assessments, producing audit-ready documentation for every cross-border work event.
- The platform also includes a crisis-response function, allowing companies to track traveling employees and respond quickly to global incidents. Its enterprise clients include firms like Deel and Otto Group.
- According to the startup, it has experienced trip volume growth of more than 250% year-over-year and now serves over 500 enterprise customers, using structured technology to manage the increasing complexity of international workforce mobility instead of traditional advisory methods.
Details of the deal
- The fresh €37 million capital aims to help WorkFlex accelerate its European expansion, enhance its automated compliance platform, and scale its crisis-response tools for globally operating enterprises.
- The funding will also support growth into adjacent areas of mobility risk management, enabling the company to handle the increasing complexity of cross-border business travel and workforce mobility while providing enterprises with structured, scalable, and audit-ready compliance solutions.
“We are building the automation layer for cross-border compliance. Enterprises need systems that integrate and operationalise compliance decisions at scale. This investment allows us to expand internationally and continue developing our platform for globally operating organisations," explains Patrick Koch, Co-Founder of WorkFlex.
