Giorgio Seveso
Podcast appearances as guest
Episode 32 - Giorgio Seveso
In this episode, I sit down with Giorgio Seveso, founder and CEO of Tundr.
On the podcast
Giorgio studied at Bocconi, worked in consulting and founded Tundr in 2022.
Tundr provides corporate welfare and non-salary benefits through a payment card, connecting companies, employees and merchants.
Tundr's seed round was led by 360 Capital, with Digitalee also investing.
Tundr is following an Italian playbook for the next 12–24 months and will expand abroad only once its product is clearly competitive there.
The main non-salary benefit markets worldwide are Brazil, Mexico, France and Italy; France's Swile pioneered the category and raised about 200 million euros.
Every Tundr employee has a stake in the company through a stock option plan.
Giorgio's master's thesis found Italy's venture ecosystem roughly eight years behind France's.
Venture capital must be treated as its own asset class with a long-term horizon, not as a branch of private equity.
Because employers introduce the product, a benefits card solves the customer-acquisition problem that neobanks face.
Salary advances and free bank accounts delivered through employers are the benefit trends to watch; BNPL on its own is a feature, not a business.