What Up does

Groupe Upcoop (formerly Groupe Up) is a French-headquartered, 100% employee-owned cooperative (SCOP) that issues payment and employee-benefit solutions to enterprises, works councils (CSEs), and public-sector organisations. Founded in 1964 by Georges Rino as the inventor of the meal voucher in France (Chèque Déjeuner), the group now operates 25 country subsidiaries across four continents serving approximately 23 million beneficiaries through brands including UpDéjeuner (meal vouchers), UpCadhoc (gift cards), Chèque Lire and Chèque Culture (cultural passes), the recently acquired OTIPASS municipal pass platform, and the social-aid Cohésia card. Its technology stack centres on digital payment and voucher issuance, mobile applications for card management, balance checking, and merchant geolocation, a carbon footprint calculator for meal purchases, and the Up+ relational loyalty programme that links cardholders to a curated network of over 253,000 French merchant partners (including 15,000+ eco-committed addresses).

The company generates revenue through three streams: transaction-based take rates from accepting merchants, subscription and service fees from employer and CSE clients for digital issuance and platform access, and managed-service fees from public-sector clients deploying targeted aid cards and digital pass solutions. Distribution is exclusively B2B and B2B2C, delivered via direct enterprise field sales across regional France, the 25-country subsidiary network, and direct procurement and tender processes for collectivités and government bodies. The group holds an EcoVadis Gold Medal (top 5% of rated companies, 2023), ISO 14001 and PEFC certifications, scored 90/100 on the 2025 French gender equality index, and achieved 'Entreprise à Mission' status in January 2023, formally inscribing social and local utility into its statutes and constraining any future owner to that mission.

Name

Up

Legal name

Up Coop SCOP

Website

https://groupe.up.coop

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

11–50 employees

Short description

Groupe Upcoop is a French employee-owned cooperative that issues meal vouchers (UpDéjeuner), gift cards (UpCadhoc), cultural passes, and public-sector social-aid cards to enterprises, works councils, and local authorities across 25 countries, serving 23 million beneficiaries.

Ownership category

akta.pro rank

Product category

Employee Benefits & Prepaid Voucher Services

NAICS

Activities Related to Credit Intermediation (5223), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

akta.pro primary industry

Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)

Keywords

• Employee benefits administration
• Meal voucher solutions
• Gift card programs
• Cultural benefit passes
• Public sector social aid

Headquarters

HQ city

Gennevilliers

HQ country

France

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Meal and gift voucher issuance and transaction processing: Upcoop issues meal vouchers (UpDéjeuner), gift vouchers (UpCadhoc), and cultural cheques (Chèque Lire, Chèque Culture) to employers and public-sector clients. Revenue is generated through transaction fees paid by accepting merchants and/or administrative fees charged to employer clients. This is the core business.
2. B2B subscription and service fees: Enterprises and CSEs pay for access to Upcoop's platform and voucher management services, including digital card issuance, beneficiary account management, and reporting dashboards.
3. Digital aid and social benefit disbursement for public sector: Collectivités and government bodies engage Upcoop to deploy targeted aid cards (e.g., Cohésia card for food security pilots, sustainable food cards) using Upcoop's digital disbursement infrastructure, generating service fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Up issues prepaid benefit and social-aid payment solutions — meal vouchers (UpDéjeuner), gift cards (UpCadhoc) and cultural cheques (Chèque Lire, Chèque Culture) — to enterprises, works councils and public-sector clients, who then distribute them to employees and citizens. Revenue is generated through merchant transaction fees, employer/issuer subscriptions, and managed digital-aid disbursement services, supported by a digital issuance platform, mobile apps, a merchant store-locator, and a per-meal carbon-footprint calculator.

Product overview

Upcoop operates as a multi-product platform for employee benefits and social services, centered on its core meal voucher solution UpDéjeuner and gift card product UpCadhoc. The portfolio includes specialized cultural vouchers (Chèque Lire, Chèque Culture), the acquired OTIPASS municipal pass solution, and digital features like the Up+ loyalty program and carbon footprint calculator. The products function as both standalone benefits and an integrated ecosystem where the Store Locator, loyalty rewards, and responsible consumption filters connect beneficiaries with engaged merchants. Social aid solutions like Cohésia extend the platform into public sector distribution of targeted assistance.

Differentiator

Problem solved

Functional benefit

Brands

• UpDéjeuner: Meal voucher solution for employees, allowing access to restaurants and food merchants
• UpCadhoc
• Chèque Lire
• Chèque Culture
• OTIPASS
• Leeto
• Cohésia
• Up+

Quantifiable outcome

• €9 million collected for Action contre la Faim since 2009, equivalent to 966,580 children helped avoid malnutrition
• +2 more outcomes

Named customers5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

17 partnerships are on record, tiered core, minor and flagship.

• Label EmmaüscoreGTM or Marketing Partner · 26 November 2025Upcoop partnered with Label Emmaüs in November 2025 to make the UpCadhoc gift card accepted on label-emmaus.co, the secondhand e-commerce platform. This supports responsible consumption and circular economy around the festive period.
• Coop-médiasminorGTM or Marketing Partner · 30 September 2025Upcoop became a member of Coop-médias, the citizen cooperative of independent media, reinforcing its cooperative and democratic identity and signalling support for press freedom in the face of threats to democracy.
• Groupe VYVflagshipStrategic or Co-development Partner · 17 July 2025In July 2025, Upcoop partnered with Groupe VYV (first mutual health and social protection group in France) and Biocoop to launch a solution giving modest-income employees purchasing power usable at responsible food retailers, addressing food insecurity.
• BiocoopflagshipStrategic or Co-development Partner · 17 July 2025Biocoop, the leading organic supermarket cooperative in France, is a partner in the tripartite solution with Groupe VYV and Upcoop. Biocoop's network of organic stores serves as the acceptance network for targeted food purchasing aid.
• Réseau Vrac et RéemploicoreStrategic or Co-development Partner · 3 July 2025Upcoop is a partner of the Réseau Vrac et Réemploi, an association working to structure and develop bulk and reusable packaging in France. Upcoop integrates Vrac merchants into its Up+ loyalty programme, encouraging responsible consumption through its meal card network.
• ClorofilminorStrategic or Co-development Partner · 3 July 2025Upcoop partnered with Clorofil to help affiliated cafés, hotels, and restaurants (CHR) reduce their carbon footprint. The free Clorofil platform lets restaurants calculate a simplified carbon footprint and access 170+ practical guides aligned with Paris Agreement targets.
• Bio CulturecoreStrategic or Co-development Partner · 3 July 2025Upcoop partnered with Bio Culture, which delivers 100% organic fruit and vegetable baskets through 45+ relay points in Île-de-France. Upcoop meal cards are accepted for payment and an Up+ mission encourages responsible consumption. 30 certified organic farmers are fairly remunerated.
• MapstrminorGTM or Marketing Partner · 31 March 2025Upcoop partnered with Mapstr to let UpDéjeuner holders map, annotate, and filter eco-committed restaurants and merchants. The partnership surfaces sustainable dining options in the Mapstr app, supporting responsible consumption choices.
• OTIPASScoreStrategic or Co-development Partner · 18 September 2024Acquired in September 2025, OTIPASS is a French SME and market leader in digitising tourist, cultural and multi-service passes. The acquisition accelerates Upcoop's digitisation of municipal and public-service solutions.
• DIALOGcoreTechnology or Integration · 24 January 2024Acquired in January 2024, DIALOG expands Upcoop's digital capabilities, enhancing its platform for employee and citizen benefit management and social programme disbursement.
• La Ferme des possiblesminorStrategic or Co-development Partner · 1 January 2024Since 2024, Upcoop supports a community space providing access to healthy food for residents including vulnerable populations, including through food education and social link activities.
• Veni VerdiminorStrategic or Co-development Partner · 1 January 2024Since 2024, Upcoop supports the Veni Verdi association, which creates synergy between 2 urban micro-farms to produce affordable, quality local food for low-income urban residents while raising awareness of climate and living issues.
• Re-BelleminorStrategic or Co-development Partner · 1 January 2024Since 2024, Upcoop supports the Re-Belle association, which recovers unsold fruits and vegetables to create alternative food products while offering a personalised back-to-work pathway for residents of a fragile territory in Seine-Saint-Denis.
• La Tablée des chefsminorStrategic or Co-development Partner · 1 January 2023Since 2023, Upcoop has partnered with La Tablée des chefs to raise awareness among future chefs about healthy eating while involving hospitality professionals in the fight against food precarity.
• Upcoop Foundation (Fondation Upcoop)flagshipStrategic or Co-development Partner · 1 January 2017Created in 2017, the Upcoop corporate foundation acts across all 25 countries of the group's presence, supporting projects for people in isolation or dependency. In 6 years: 80 projects supported, €1.8 million committed, 169 solidarity actions, 14 countries.
• Bleu-Blanc-CœurcoreStrategic or Co-development Partner · 1 January 2012Upcoop has partnered with Bleu-Blanc-Cœur since 2012 to promote food that preserves health and environment, supporting agricultural practices that preserve soil health and reduce greenhouse gas emissions.
• Action contre la FaimflagshipStrategic or Co-development Partner · 1 January 2009Since 2009, Upcoop has run the 'Je Déj, Je Donne' operation, allowing UpDéjeuner holders to donate unused meal vouchers to Action contre la Faim. Nearly €9 million has been collected, equivalent to helping 966,580 children avoid malnutrition. This is a flagship social impact partnership.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Edenred: Global market leader in prepaid meal vouchers (Ticket Restaurant) and employee benefits, operating in 45+ countries. Directly competes with Upcoop in France, Belgium, Brazil, and across Europe with very similar product portfolios (meal vouchers, gift cards, mobility solutions). Listed on Euronext Paris.
• Pluxee: Spun off from Sodexo in 2024, Pluxee is a direct competitor offering employee benefit vouchers and public benefits solutions in 30+ countries. Closely matches Upcoop's product set (meal vouchers, gift cards, cultural/sport passes) with strong enterprise sales motion. Publicly listed in Paris.

Emerging players

• Spendit: Digital meal card and employee benefits platform operating in Spain, Italy, Germany, and Portugal. Overlaps with Upcoop's Up Spain, Up Day Italy, and givve (Germany) operations, targeting the same SME and mid-market employer segment with digital-first tools.
• Swile: French digital-first employee benefits and meal voucher provider backed by venture capital. Competes head-on with Upcoop's UpDéjeuner in France, with a mobile-first UX and broader spend management features. Acquired Lunchr; represents the digital-native threat to incumbent voucher players.
• Pleo: European fintech offering corporate cards and spend management for SMBs and mid-market. Adjacent competitor—does not directly issue meal vouchers but is increasingly encroaching on the employer-administered employee spend wallet use case that underpins Upcoop's value proposition.

Broad incumbents

• Workday (Benefits/HR): Enterprise HCM and benefits administration platform increasingly embedding employee benefits marketplace functionality. Represents the risk that enterprise benefits management moves upstream into the HR system of record, potentially disintermediating dedicated voucher platforms like Upcoop.
• Sodexo (Benefits & Rewards): Global food services and benefits conglomerate; its Benefits & Rewards division historically competed with Upcoop in meal vouchers and gift cards before the Pluxee spin-off. Still relevant for cross-border employer contracts and food services integration with benefits.

Regional players

• Multinet Up (Turkey): Upcoop's own Turkish subsidiary, but functions as a regional competitor to global peers in the Turkish meal voucher market. Included here as a comparable regional-scale benefits issuer in an emerging market, similar in role to Upcoop's other wholly-owned country subsidiaries.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@UpCoop
• Facebookfacebook.com/UpCoop
• LinkedInlinkedin.com/company/up-coop
• Xx.com/UpCoop

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Up