Perkbox, a leading employee experience and benefits platform, has acquired loveelectric, an award-winning electric vehicle (EV) salary sacrifice provider, for an undisclosed amount. This corporate acquisition integrates loveelectric's specialized offering directly into Perkbox's comprehensive suite of employee benefits, marking a strategic expansion for the acquiring company. loveelectric helps employees save 30-60% on new and used electric vehicles, bundling insurance, maintenance, and other essentials into one monthly payment, while enabling businesses to reduce tax and meet sustainability goals cost-neutrally.
The acquisition is a strategic move for Perkbox to enhance its employee benefit portfolio with a high-demand, environmentally conscious solution. loveelectric’s proven scheme, which provides significant savings for employees and tax advantages for companies, aligns with the growing corporate focus on sustainability and employee well-being. Its Certified B Corp status and industry-leading Zero Risk Guarantee further strengthen its appeal, offering a robust and ethical addition to Perkbox’s offerings.
Expected synergies include loveelectric gaining broader reach and distribution through Perkbox's extensive client network, while Perkbox solidifies its position as a holistic provider of employee engagement tools. The integration will allow Perkbox to offer a seamless pathway for its clients to implement a highly attractive EV salary sacrifice scheme, tapping into the increasing demand for eco-friendly and financially beneficial employee perks. This move is squarely aimed at expanding service capabilities, not fundraising for either entity.
The combined entity is poised to deliver an even more diverse and impactful range of employee benefits. By merging loveelectric’s innovative EV solution with Perkbox’s established platform, both companies are set to drive greater value for businesses looking to attract and retain talent through competitive and sustainable reward programs.