Lithuanian HR platform MELP raised €635K

Vilnius-based HR platform for managing employee motivational tools MELP raised €635K of seed investment from Lithuanian fund Coinvest Capital, Lithuanian syndicate of business angels NGL, and business angels from the UK and Lithuania. Coinvest Capital backed MELP with €361,6K.

Founded in 2021 by Juozas Sargūnas, Robertas Šaltis, and Vidmantas Šiugōdinis, the MELP platform allows employers to save time and money by managing and communicating employee benefits and analyzing their costs and usage. At the same time, employees can select financial and non-financial benefits according to their needs and preferences. Among more than 6K goods and services, there are insurance packages, sports membership, paid time off, training and education, vaccination, fuel compensation, public transportation tickets, mobile phones, etc. The startup will use the investment to expand abroad.

Founded in 2022 by the ex-managing director of LitBAN Justinas Pasys, NGL facilitates syndicate investments, and business angel education and forms startup advisory boards. 

Established in Vilnius in 2017, Coinvest Capital invests in startups at early stages and co-invests with groups of business angels. The managing director is Viktorija Trimbel.