What Tedy does

Tedy Financial Technologies Inc. is a Montreal-based SaaS company founded in 2021 that operates a flexible employee benefits and wellness platform for Canadian employers. The platform functions as an Employee Lifestyle Expense Account: employers allocate virtual funds to employees, who submit claims for reimbursement across 25 customizable spending categories covering personal care, mental health, active life, pets, dental, vision, remote work, travel, and more. Underlying technology is a cloud-based SaaS platform with a mobile-first Progressive Web App, AI-powered receipt scanning (computer vision OCR), and configurable programs including HSA, LSA, Recognition wallets, FIN (RRSP/investment wallet), and Salary Raise Optimization. The company holds SOC 2 Type I compliance, integrates with HRIS/payroll systems and provides SSO via Google and Microsoft, and processes reimbursements through a ZumRails payment-rail partnership.

Tedy monetizes via tiered PEPM SaaS subscriptions: Essentials at $15 PEPM (single program), All-inclusive at $59 PEPM (unlimited programs plus virtual care suite, custom roles, payroll sync, SSO/HRIS sync), Enterprise with custom pricing and multi-year contracts, plus modular add-ons for telemedicine/EAP ($5 PEPM via Telus Health) and group insurance ($30+ PEPM). Go-to-market combines direct demo-led sales for mid-market and enterprise, product-led self-serve signups with a 14-day free trial for SMBs, and the September 2025-launched Tedy Partners program for HR consultants and brokers. The customer base spans 500+ Canadian businesses across retail, pharmacy, food, technology, transportation, and non-profits — including named logos such as Aéroports de Montréal, St Hubert, Jean Coutu, Sushi Shop, Flipp, Oatbox, Stay22, Thirdbridge, CAA Niagara, and Norsefell. The team is small (1-10 employees), operating exclusively in Canada with no disclosed international expansion.

Name

Tedy

Legal name

Tedy Financial Technologies Inc.

Website

https://tedy.app

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Tedy is a Montreal-based SaaS platform offering flexible, customizable employee benefits and wellness spending accounts (HSAs, LSAs, recognition, RRSP wallets) to 500+ Canadian SMBs and enterprises via tiered per-employee-per-month subscriptions.

Ownership category

akta.pro rank

Product category

Employee Benefits Administration Software

NAICS

Health and Welfare Funds (52512), Health and Welfare Funds (525120), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Services-Help Supply Services (7363), Hospital & Medical Service Plans (6324), Accident & Health Insurance (6321)

akta.pro primary industry

Benefits Administration & Total Rewards Outsourcing (BPACAKAE)

akta.pro secondary industries

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK), Worksite Financial Wellness & Employee Assistance Programs (EAP) (FSAIAMAN)

Keywords

• Employee benefits platform
• Flexible spending accounts
• Wellness benefits management
• Health spending accounts
• HR benefits software

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. SaaS Subscription - Essentials Tier: Base subscription tier at $15 per employee per month providing single program selection including HSA, Wellness, Work from Home, Gift cards, Expenses, or Bonus programs. Includes claims management, payment processing, and reporting.
2. SaaS Subscription - All-inclusive Tier: Premium tier at $59 per employee per month with unlimited programs (Wellness, HSA, work from home, expenses, rewards, bonus), full virtual care suite (telemedicine, EAP, women's health, mental health+), custom roles, payroll sync, SSO + HRIS sync.
3. Group Insurance Add-on: Optional add-on from $30 PEPM for companies wanting to supplement Tedy with traditional group insurance coverage.
4. Claims-based Reimbursement: Operating like an expense account - funds are only disbursed when employees submit approved claims. Employers don't pay until claims are validated, providing favorable cash flow dynamics.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Tedy provides a SaaS-based flexible employee benefits platform that operates as an expense account where Canadian employers allocate virtual funds to employees across 20-25 customizable wellness categories. Employees submit claims via mobile app with AI-powered receipt scanning for reimbursement through HSA, LSA, Recognition, Telemedicine/EAP, and FIN (RRSP/Investment) programs on subscription plans ranging from $15 to $59 per employee per month.

Product overview

Tedy is a SaaS-based employee benefits and wellness platform operating as a unified core platform with modular add-on components. The core Tedy platform functions as a flexible spending account system where employers allocate virtual funds to employees who submit claims for reimbursement across customizable categories. The platform is offered through tiered subscription plans: Essentials ($15/employee/month) provides single-program access; All-inclusive ($59/employee/month) bundles unlimited programs with virtual care, custom roles, payroll/HRIS sync, and SSO; Enterprise offers custom pricing with advanced governance and integrations. Add-on modules include telemedicine/EAP packages via Telus Health, employee recognition tools, HSA (tax-free health spending), LSA (flexible lifestyle spending across 20-25 categories), FIN (RRSP/investment wallet), group insurance, and the Tedy Partners reseller program. Supporting infrastructure includes a Help Center for self-service support and a Trust Center for security and compliance information.

Differentiator

Problem solved

Functional benefit

Products and services

• Tedy Core Platform SaaS-based flexible employee benefits and wellness platform that lets Canadian employers create custom social benefits programs by allocating virtual funds to employees who submit claims for reimbursement across employer-selected spending categories. Functions as an expense account with claims-only disbursement.
• Telemedicine and EAP Package Virtual care add-on providing unlimited telemedicine consultations and an Employee Assistance Program (EAP) through a partnership with Telus Health; available regardless of whether the employer offers group insurance, with 85% of consultations resolving without in-person follow-up.
• FIN (RRSP and Investment Wallet) Financial wellness wallet that lets employees direct a portion of their Tedy benefits balances toward RRSP contributions, savings, or investment deposits. Employees fund the personal account first, submit proof, and are reimbursed through Tedy's claims workflow.

Quantifiable outcome

• Up to 50% cost savings vs traditional group insurance
• +6 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Telus HealthcoreTechnology or Integration · 6 May 2023Telemedicine partnership providing unlimited doctor consultations accessible through Tedy platform. With 85% of consultations resolving without in-person follow-up, this partnership enables employees to get diagnoses and prescriptions without taking full day off work. Service integrated into All-inclusive tier and available as add-on.
• ZumRailscoreTechnology or IntegrationThird-party payment processing partner for instant deposits and bank verification services. Handles bank account access, account information retrieval, and transaction facilitation. Subject to separate terms of service and privacy policy. Used for EFT reimbursements to employees.
• Telemedicine, Mobility, Meal Box PartnersminorStrategic or Co-development PartnerValue-added partners in telemedicine, mobility, meal boxes, and other wellness categories to enhance employee wellness experience. Partners allow team members to access discounted or integrated services through Tedy platform.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PeopleKeep: PeopleKeep specializes in ICHRA and HRA administration for small businesses, a closely adjacent model to Tedy's health spending account offering. Both target the same pain point of replacing or supplementing traditional group insurance.
• Benepass: Benepass is a benefits platform providing flexible spending accounts across lifestyle, wellness, and professional development categories. It is a direct competitor with a similar LSA-centric, employer-funded claims model.
• Forma: Forma is a benefits administration SaaS platform offering HSAs, LSAs, wellness, and recognition programs. It directly competes with Tedy in the modern flexible benefits space with comparable customizable categories and reimbursement flows.
• Compt: Compt is a US-based lifestyle spending account (LSA) and wellness benefits platform. It is a direct competitor to Tedy, offering employers customizable spending categories, reimbursements, and integrations with HRIS/payroll — a near-identical product model.
• ThrivePass: ThrivePass is a lifestyle spending account and employee benefits reimbursement platform. It directly competes in the LSA category with employer-funded, claims-based reimbursement flows.

Others

• Telus Health: Telus Health is Tedy's telemedicine and virtual care partner, and a broader Canadian employer health services provider. It is ecosystem-adjacent — both a current integration partner and a potential competitor in the virtual care layer.

Emerging players

• HealthJoy: HealthJoy is a benefits navigation and virtual care platform with integrated HSA/FSA and point-solution management. It is comparable to Tedy's combined virtual care + benefits admin proposition.
• League: League is a Canadian health benefits and navigation platform serving employers. It overlaps with Tedy on the Canadian employer benefits side, but its core is benefits navigation and virtual primary care rather than flexible spending accounts.

Broad incumbents

• Manulife Financial: Manulife is a dominant Canadian group benefits carrier offering health, dental, disability, and retirement products. It represents the traditional insurance incumbent Tedy is displacing or supplementing.
• Sun Life Financial: Sun Life is one of Canada's largest group benefits insurers and a major incumbent in the employer benefits market that Tedy positions itself against and integrates with (group insurance add-on).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/tedyapp
• LinkedInlinkedin.com/company/tedy
• Instagraminstagram.com/tedyapp
• Facebookfacebook.com/tedypointapp

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tedy