All Gravy has successfully closed a €3.2 million seed funding round to enhance employee-centric payroll solutions in the hospitality sector, addressing significant labor market challenges.

Target Company Overview

All Gravy, a flexible employment fintech founded in Copenhagen in 2020 by Jonatan Rasmussen and Kristian Lundager, aims to address the significant issue of high staff turnover in the retail and hospitality sectors. The company has developed a tool that empowers employees by offering them greater choice, instant wages, and various incentives. With a focus on improving employee welfare, All Gravy is strategically positioned to tackle the challenges of the rapidly evolving employment landscape.

The mission of All Gravy is particularly timely, given the growing labor shortage in hospitality, where businesses require innovative payroll solutions that prioritize employee needs. Currently, there are approximately 90 million hourly-paid workers in Europe who face the challenge of managing multiple jobs alongside their personal aspirations, necessitating support for their financial wellness and autonomy.

Industry Overview

The hospitality industry in Europe is witnessing a significant transformation, driven by increased employee expectations and a rise in flexible work arrangements. With approximately 75% of employees leaving the