pluxee

Pluxee México is a regulated fintech company operating as an Institución de Fondos de Pago Electrónico (IFPE) under Mexico's fintech law. The company represents the rebranding of Sodexo's Benefits and Rewards Services division, which launched its fintech operations in Mexico in August 2023 following authorization from the Comisión Nacional Bancaria y de Valores (CNBV). Pluxee operates under a B2B2C model, providing digital employee benefits and engagement solutions to corporate clients. The platform offers employee benefit products including meal and food vouchers, corporate travel expense management cards, gift cards, and flexible benefit solutions such as Flexible One and Flexible Bonus. The company provides digital payment solutions through physical and virtual cards that employees can use at affiliated merchants. Key products include corporate expense cards for travel allowances, customizable employee benefit packages, and recognition programs. Pluxee's technology platform enables employers to manage and distribute employee benefits while giving workers access to their allowances through mobile applications. The company serves over 500,000 corporate clients globally with operations in 31 countries. In Mexico, Pluxee was positioned as a testing ground for the global expansion strategy of the French parent company. The fintech division focuses on digitizing traditional benefit vouchers into electronic payment solutions, offering businesses tools to simplify administrative processes related to employee compensation and benefits. In September 2024, Pluxee completed the acquisition of Cobee, a Spanish employee benefits platform that also operates in Mexico, further strengthening its market position. The company is authorized and supervised by Mexican financial authorities to issue electronic money, provide electronic payment accounts, and process electronic payments.