Bonusukarte

What Bonusukarte does

Bonusukarte.lv SIA is a Latvia-based fintech founded in 2020 that provides employee benefit payment cards enabling tax-efficient non-wage compensation. The company operates two core products: the E.A.T. Karte (Ēdināšana, Ārstniecība, Transports), which channels up to 700 EUR per employee per year in tax-exempt allowances for food, healthcare, and transport under Latvian Income Tax Law Article 8, Paragraph 15; and the FLEX Karte, a customizable employer-branded reward card for categories outside the tax-advantaged regime. Both products rely on technically filtered card rails provided through a strategic partnership with electronic money institution UAB Walletto, restricting spending to employer-defined merchant categories and generating detailed electronic account statements accepted by the Latvian State Revenue Service (VID) as sufficient external documentation.

The supporting platform includes a mobile application, a web-based client portal (app.bonusukarte.lv), an employer-facing administrative platform with automated reporting for the EDS tax submission system, and the Draugu Programma discount network. The company has obtained a formal VID opinion confirming regulatory compliance, and partners with law firm COBALT to provide free collective agreement documentation required for the tax exemption.

Bonusukarte serves over 200 B2B customers and 10,000+ card users across Latvia through a direct enterprise sales motion led by its CEO and client relationship manager, supported by inside sales via website quote requests and Pipedrive-scheduled meetings. The revenue model is transaction-based commission only on actual card spending, with unspent annual allowances returned to the employer at year-end. The company raised 500,000 EUR from Walletto in 2024, reports MRR exceeding 20,000 EUR as of 2025 (a 6x increase), and is pursuing geographic expansion via an EU-backed export support initiative launched in 2023.

Name

Bonusukarte

Legal name

Bonusukarte.lv SIA

Website

https://www.bonusukarte.lv

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Bonusukarte is a Latvian fintech that issues technically filtered employee benefit payment cards (E.A.T. Karte and FLEX Karte) enabling tax-efficient non-wage compensation under Latvian IIN Law Article 8.15, serving 200+ B2B clients and 10,000+ card users through a transaction-based commission model.

Ownership category

akta.pro rank

Product category

Employee Benefits Fintech

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Central/Lodge Cards & Ghost Cards (Air/Hotel/Rail) (THACAJAB)

akta.pro secondary industries

Rewards, Rebates & Program Optimization (Interchange, Supplier-funded) (THACAJAK), Corporate Billing, Statements, Chargeback & Dispute Management (THACAJAJ), Fraud Prevention, Controls & Compliance (MCC controls, AML/KYC, SCA) (THACAJAG)

Keywords

• Employee benefit cards
• Tax-advantaged compensation
• Corporate wellness programs
• Payment card solutions
• Non-wage benefits platform

Headquarters

HQ city

Ropazi

HQ country

Latvia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction Commission: Bonusukarte charges commission only for actual transactions made with the cards. Unspent funds at year-end are returned to the employer's account, resulting in zero cost for unused allowances.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Bonusukarte issues technically filtered payment cards that enable Latvian employers to provide tax-exempt employee allowances for dining, healthcare, and transport under Income Tax Law Article 8.15, with up to EUR 700 per employee per year. The E.A.T. Karte covers the three statutory tax-advantaged categories while the FLEX Karte allows employers to define custom spending categories without tax advantages. Card transactions generate detailed electronic account statements accepted by VID as external supporting documentation, eliminating receipt collection.

Product overview

Bonusukarte is an employee benefits and motivation fintech platform offering two core card products: E.A.T. Karte for tax-exempt food, healthcare, and transportation allowances under Latvian law, and FLEX Karte for customizable employee reward programs without tax benefits. The platform includes a mobile app for cardholders, a web-based client portal, an administrative platform for employers with automated reporting, and a Draugu Programma discount network. A complementary collective agreement documentation package is offered free to clients. The company serves over 200 businesses and 10,000+ card users in Latvia.

Differentiator

Problem solved

Functional benefit

Brands

• E.A.T. Karte: Employee benefit card for meal, healthcare, and transport expenses with tax advantages under Latvian income tax law Article 8, Part 15.
• FLEX Karte

Products and services

• E.A.T. Karte (Ēdināšana | Ārstniecība | Transports) Employee benefit payment card that provides tax-exempt allowances for food (ēdināšana), healthcare (ārstniecība), and transportation (transports) expenses under Latvian Income Tax Law Article 8, Paragraph 15 (up to EUR 700 per employee per year). Technically filtered at the payment-network level to restrict spending to employer-selected categories, accepted globally wherever card payments are taken.
• FLEX Karte Fully customizable employee benefit payment card that allows employers to define specific spending categories aligned with company values and motivation policies. Does not qualify for Income Tax Law Article 8.15 tax advantages but enables flexible employee reward systems outside the statutory dining/healthcare/transport categories.

Quantifiable outcome

• Average savings of 515 EUR per employee annually using IIN Law Article 8.15 tax benefits
• +2 more outcomes

Named customers10 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor, supporting and core.

• BNI VivaldiminorGTM or Marketing PartnerMember of BNI Vivaldi business networking group for referral-based lead generation.
• Transact PRO SIAsupportingTechnology or IntegrationPayment processing partner handling transaction processing for Bonusukarte cards.
• Cobalt (Zvērinātu advokātu birojs)coreImplementation/ SI/ Consulting PartnerLaw firm partner that co-developed the free collective agreement documentation package offered to Bonusukarte customers. Provides legal expertise for compliance with Latvian labor law.
• Latvijas Tirdzniecības un rūpniecības kamera (LTRK)supportingOthersActive member of the Latvian Chamber of Commerce and Industry, participating in regional business forums and events.
• Rīgas Biznesa KameraminorOthersMember of the Riga Chamber of Commerce and Industry.
• Fintech Latvija AsociācijasupportingOthersMember of the Fintech Latvia Association, contributing to the Latvian fintech ecosystem.
• Latvijas Personāla vadīšanas asociācija (LPVA)supportingGTM or Marketing PartnerPartner association for HR professionals. Co-organizes webinars on employee motivation and benefits systems.
• Misija NullesupportingOthersSocial initiative on workplace safety and employee wellbeing. Bonusukarte joined as a participant, promoting the connection between practical employee support and workplace safety.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Edenred: Global leader in employee benefits and payment solutions (meal vouchers, mobility, gift/incentives) operating across dozens of countries. Comparable as the scaled incumbent in tax-advantaged employee benefit card programs that Bonusukarte competes against in its core use case.
• Pluxee: Employee benefits and engagement platform spun off from Sodexo in 2024, focused on meal, gift and mobility benefits across multiple geographies. Closely analogous business model to Bonusukarte's tax-advantaged meal/healthcare/transport cards, but at much larger scale.

Direct peers

• Swile: France-based employee benefits card platform (meal vouchers, mobility, gifts) serving thousands of employers, now part of Edenred. Directly comparable product offering and GTM motion to Bonusukarte's E.A.T. Karte in a more mature market.
• Coverflex: Portuguese flexible compensation and employee benefits platform offering a benefits card with merchant category controls across meal, transport, childcare and health. Highly comparable architecture and value proposition to Bonusukarte's E.A.T. and FLEX cards.
• Spendit: German employee benefit card platform focused on tax-free meal vouchers (Essensgutschein) and supplementary benefits via Mastercard/Visa rails with merchant controls. Closely mirrors Bonusukarte's regulated, MCC-filtered benefit card model.
• Up: European employee benefits and flexible compensation platform offering prepaid cards and digital vouchers across multiple countries. Operates a comparable benefits-card stack to Bonusukarte's E.A.T. and FLEX products, including tax-advantaged meal programs.
• Lunchit: Nordic employee meal benefit card provider operating in Finland with tax-advantaged lunch benefits. Closely comparable to Bonusukarte's E.A.T. Karte on the meal/transport benefit card model in a smaller European market.

Emerging players

• Pleo: European business payment card platform for company expenses, with employee cards and spend controls. Adjacent rather than directly competing on tax-advantaged benefits, but overlapping card-issuing, category controls and employer-customer base.
• Spendesk: European corporate spend management platform offering prepaid cards and expense automation for SMB and mid-market. Shares the card-based employer-employee payment thesis with Bonusukarte, though focused on general expense rather than tax-exempt benefits.

Others

• Visma: Nordic and European provider of business, HR and payroll software including employee benefits and expense administration modules. Adjacent ecosystem participant — potential distribution or integration partner for Bonusukarte across Nordic-adjacent markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@Bonusukarte
• Facebookfacebook.com/bonusukarte
• LinkedInlinkedin.com/company/bonusukarte

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Bonusukarte