Pluxee has agreed to acquire ProEves, India's leading corporate childcare benefit provider, to enhance its offerings and strengthen its market position in a growing sector.

Target Company Overview

Pluxee has signed an agreement to acquire ProEves, the foremost provider of corporate childcare benefits in India. This acquisition will enable Pluxee to enhance its offerings within the growing multi-benefit sector. ProEves has pioneered a digital platform that assists parents in selecting suitable caregivers for their children, thereby addressing an essential need in the market. Established in 2017, ProEves has partnered with over 100 companies and collaborates with more than 7,000 childcare centers across India, serving thousands of working parents each month. The company's expertise in corporate childcare initiatives solidifies its status as a crucial player in the market.

Industry Overview

The corporate childcare benefits sector in India is witnessing significant transformation, driven by a growing emphasis on work-life balance and gender equality in the workplace. As more organizations recognize the importance of supporting working parents, the demand for comprehensive childcare solutions continues to rise. India, home to over 3.5 million consumers, has been relatively underserved in this market, highlighting the potential for expansion in corporate childcare benefits.

With recent regulatory changes bolstering the requirement for companies to provide childcare support for employees, the market is expected to undergo further growt