Boncado

What Boncado does

Boncado is a Belgian e-commerce platform, founded in 2018 and operated by the private limited company SRL JALM under the management of Joël LODOMEZ, that issues and redeems multi-brand gift vouchers usable at local independent businesses. The platform operates two principal product variants: Boncado Anywhere, a voucher valid across all partner stores nationwide, and Boncado City, a white-label, municipality-branded voucher valid within a specific city or commune. Underlying technology is a web-based e-commerce system that generates PDF vouchers, distributes them via email, SMS, scheduled sending, or physical postal delivery in card envelopes, and integrates mainstream payment processors (Bancontact, Maestro, Visa, Mastercard). The platform is accessible 24/7 at boncado.be, supports French, Dutch, and German languages, and is available across Wallonia and Brussels.

The company serves three primary customer segments: individual consumers purchasing gifts for personal occasions, Belgian businesses procuring tax-advantaged employee rewards (exploiting Belgium's €40 tax-free year-end, €245 wedding, €120 honorary award, and service-based retirement allowances), and local municipalities and authorities deploying Boncado City programs to stimulate local commerce. A network of over 2,000 local merchants — artisans, restaurants, retailers, and service providers — accepts vouchers as payment, with registration free of charge and no commission charged to merchants. Large chain stores are explicitly excluded from the network, reinforcing the platform's positioning around independent local commerce.

Boncado's revenue mechanics are concentrated in ancillary fees rather than take rates: consumer purchases pay face value with no surcharge, while optional physical postal delivery costs €2.99 per voucher via the Premium Pochette add-on; B2B bulk orders incur tiered printing fees (€0.75–€2.50 per unit depending on quantity), a €15 delivery charge, and a 3% management fee on voucher value. Go-to-market combines a self-serve consumer e-commerce interface, a sales-led B2B channel managed by Sales Manager Arnaud Muller, and direct-sales municipal partnerships. The company is privately held, bootstrapped with no disclosed funding rounds, and operates with a 1–10 employee headcount.

Name

Boncado

Legal name

SRL JALM

Website

https://boncado.be

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Boncado is a Belgian e-commerce platform operating multi-brand gift voucher programs redeemable at over 2,000 local independent merchants across Wallonia and Brussels, serving individual consumers, businesses seeking tax-advantaged employee rewards, and municipalities deploying local commerce stimulus programs.

Ownership category

akta.pro rank

Product category

Local Gift Voucher Platform

NAICS

Direct Mail Advertising (54186), Advertising Material Distribution Services (541870)

SIC

Services-Direct Mail Advertising Services (7331), Greeting Cards (2771)

akta.pro primary industry

Couponing, Rebates & Cash-Back Promotions (BPAFAMAI)

Keywords

• Local gift vouchers
• Multi-brand gift cards
• Corporate incentive vouchers
• Municipal gift programs
• Local commerce platform

Headquarters

HQ city

Malmédy

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. Gift voucher sales commission: Boncado charges the face value of gift vouchers sold through the platform. The company explicitly states it receives no commission on vouchers sold, meaning revenue comes from the margin between voucher value and any associated costs.
2. Physical delivery and printing fees: Additional revenue from postal delivery services. Customers pay €2.99 per physical voucher for printing, packaging in a card envelope, and Priority postal shipping.
3. B2B bulk printing services: Corporate clients purchasing vouchers in bulk pay printing fees ranging from €0.75 to €2.50 per unit depending on order quantity, plus €15 delivery and 3% management fees on voucher values.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Boncado operates a web-based e-commerce platform that sells and redeems local gift vouchers valid at a network of 2,000+ partner merchants across Belgium. The core offering consists of multi-brand gift vouchers (Boncado Anywhere) redeemable nationwide at any partner store, and city-specific vouchers (Boncado City) redeemable within a particular municipality. Vouchers can be delivered digitally (email, SMS, self-printed PDF) or physically via postal mail, and are targeted at individual consumers, businesses for employee incentives, and local municipalities for economic development programs.

Product overview

Boncado operates as a multi-brand gift voucher platform connecting local Belgian commerce with consumers. The core product is the Boncado gift card system, which includes two main variants: Boncado Anywhere (valid at all partner stores nationwide) and Boncado City (valid at stores within a specific municipality). The platform also offers add-on services such as Premium Pochette for physical gift voucher packaging. Boncado serves three main customer segments: individual consumers purchasing gifts, businesses buying employee incentives, and municipalities implementing local economic development programs.

Differentiator

Problem solved

Functional benefit

Brands

• Boncado Anywhere: Multi-brand gift voucher valid across all partner local businesses in Belgium.
• Boncado City

Products and services

• Boncado Anywhere A multi-brand gift voucher valid across all Boncado partner stores nationwide in Belgium, allowing the recipient to choose where to spend the gift card among 2,000+ local merchants. Targeted at individual consumers, corporate gifting, and any purchaser wanting recipient choice across the full local partner network.
• Boncado City A city-specific gift voucher program for municipalities, communes, ADL offices, and local commerce associations to offer gift cards redeemable at participating stores within a specific city or region. Provides a turnkey white-label digital voucher platform with customizable municipal-branded pages, requiring no equipment or maintenance from the city.
• Premium Pochette A premium envelope/package add-on for physical gift voucher delivery, including high-definition printing on quality paper inside a card envelope and Priority postal shipping, available for €2.99 per voucher.

Quantifiable outcome

• 2,000+ partner businesses across Belgium
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Local Belgian Merchants (Artisans, Restaurants, Retailers, Service Providers)coreChannel Partner/ Reseller/ DistributorOver 2,000 local businesses across Belgium participate as redemption partners. Merchants register free on the platform and accept Boncado vouchers as payment. The partnership enables merchants to reach new customers while providing voucher holders with diverse redemption options across categories including food, clothing, home, and services.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Leeto: Leeto is a French employee benefits platform offering gift cards, cultural vouchers, and sustainable mobility benefits. It is comparable to Boncado on B2B gift voucher functionality but operates primarily in France.
• Swile: Swile is a French employee benefits super-app combining meal vouchers, gift cards, and mobility benefits. It targets the same B2B corporate gifting customer as Boncado but is primarily focused on France, with limited Belgian presence today.
• WeGift: WeGift is a UK-headquartered digital gift card infrastructure platform enabling businesses to send vouchers from hundreds of brands via API. It competes with Boncado on the digital delivery and corporate gifting side, though it is brand-agnostic rather than local-first.

Direct peers

• Cadhoc: Cadhoc is the dominant Belgian multi-brand gift voucher platform with thousands of partner merchants across Belgium and France. It is the closest direct competitor to Boncado, serving both consumers and corporate clients with similar multi-brand and city-specific voucher programs.

Broad incumbents

• Edenred: Edenred operates Ticket Restaurant, Ticket Compliments, and other prepaid and gift solutions across Europe. It is a broad incumbent in the same space as Boncado's B2B gifting and municipal benefit products, with much greater scale.
• Pluxee: Pluxee is the spinoff of Sodexo's Benefits & Rewards division, focused on employee engagement and gift solutions. It overlaps with Boncado's B2B corporate gifting offering and competes for the same Belgian HR and procurement budgets.
• Smartbox: Smartbox sells experience and gift box products across Europe, including Belgium. While its core product is experience boxes rather than multi-merchant vouchers, it competes for the same consumer gifting occasions and corporate gifting budgets.
• Sodexo (Benefits & Rewards): Sodexo Benefits & Rewards is a global leader in employee benefits and gift voucher solutions, including the Pluxee brand. It competes with Boncado in Belgian corporate gifting and offers a far broader portfolio of services, but is not specialised in local independent commerce.

Regional players

• Illicado: Illicado is a French multi-brand gift voucher and gift card platform. It shares the multi-brand, multi-merchant model with Boncado Anywhere but is primarily focused on the French market.
• ChequeDejeuner (Up Coop): ChequeDejeuner, part of Up Coop, is a French meal voucher and gift solution provider with cross-border operations. It overlaps with Boncado on corporate gifting and employee benefits, primarily in France.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Boncado.be
• Instagraminstagram.com/boncado.be
• LinkedInlinkedin.com/company/boncado

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 Boncado