MYOB buys pay and employee benefits platform Flare

Business management platform MYOB has acquired Australian pay and employee benefits platform Flare as it looks to move beyond accounting and help SMEs improve their employment experiences.

MYOB first partnered with and invested in Flare in November 2020 – a move that led to the native embedding of Flare’s onboarding and superannuation services within the MYOB platform.

Now MYOB says the purchase will fast-track Flare’s ambition to be Australia’s most comprehensive and innovative workplace financial services and benefits solution, accessible to any employer in Australia.

Flare is expected to continue to operate as a standalone business and service its other clients and partners, with the initial focus on further enhancing the platform’s existing integrations with MYOB.

This will include Flare’s pay and benefits app, which will unlock discounts and wellness, a digital wallet for payroll and novated car leasing.

Greg Ellis, CEO of MYOB, says the deal will enable MYOB’s payroll capabilities to deeply connect SMEs with everything they need to run and grow their entire business.

“SMEs can only grow when they get more out of doing less,” he says.

“MYOB’s position in the employee network is already substantial; one in five employed Australians are paid through our software. When you combine this with Flare’s pay and benefits capabilities, we can provide one of the most unique people management platforms on market, offering business owners value in new ways and in less time. Helping SMEs be more competitive and productive is the ultimate goal.”

Since it was founded in 2015, Flare has grown significantly, with over one in every four Australian employees starting a job each year interacting with its benefits platform, which serves to make employee experience tools attainable for any sized Australian business.

James Windon, co-founder and co-CEO of Flare, says the acquisition will leverage MYOB’s substantial customer footprint to level the talent playing field for SMEs by connecting them with quality workplace digital tools.

“The battleground for talent has never been tougher. Eight in 10 businesses are experiencing skills shortages and there are fewer unemployed people than there are jobs. Creating an exceptional employment experience has only typically been in reach for bigger businesses with big resources.”