Amsterdam, 26 March 2026 ā Venture capital firms Smartfin and Rubio Impact Ventures are investing ā¬20 million in OpenUp. The employee mental health platform operates across the Netherlands, Germany, the United Kingdom, France, and Belgium, serving more than two thousand companies, including Rabobank, Decathlon, and PwC. The capital injection will allow the company to accelerate its European expansion strategy ā something that is urgently needed: nearly 30% of employees in the EU experience stress, depression, or anxiety.
“Easy access to professional support for employees? That should be the most natural thing in the world at every company,” says Gijs Coppens, registered psychologist and founder of OpenUp. Since 2020, the platform has complemented mainstream mental health care, where long waiting times are the norm across Europe. Major organisations such as Rabobank, Decathlon, and PwC hold subscriptions, so their employees can easily speak with professionals online when they experience mild stress, financial difficulties, sleep problems, or anxiety.
Ideal partner for European multinationals
With the ā¬20 million investment, OpenUp aims to expand rapidly across Europe, potentially through acquisitions. “While interest is growing strongly, the mental well-being market in Europe is still relatively small and fragmented. At the same time, mental health is one of the defining challenges of the 21st century. As a European player, we know this market and its solutions well. With this investment, we want to become an even more important partner for organisations that want to invest in the mental health support of their employees.”
Growing mental pressure on employees
Attention to mental well-being is no longer a luxury: more than 1.6 million Dutch employees (20%) suffer from burnout-related complaints. Across Europe as a whole, the figure rises to nearly 30%, approximately 60 million people. Driven in part by the rise of AI and geopolitical tensions, these numbers could increase further in the coming years. Coppens: “Unless we actively anticipate this and support employees properly. Employers are taking on an ever greater responsibility in this area ā and if policymakers have their way, even a formal duty of care. Technology, including AI, is also fundamentally changing the way we work. That is precisely why organisations need to think carefully about how they support their people through that transition ā and that is exactly what we do at OpenUp.”
Platform growing rapidly
The mental well-being platform now has more than 250 professionals on board and is available in 35 languages. Currently, 600,000 employees and their families have access to OpenUp for support, ranging from financial advice and confidential counsellors to group sessions and one-to-one consultations with lifestyle coaches and psychologists. JĆ¼rgen Ingels, founder of Smartfin, is confident about the investment: “From the very beginning, OpenUp has combined human connection with technology. We believe that this approach, together with the responsible use of AI, makes mental health support both accessible and scalable.”
That combination of impact and scalability is precisely why Rubio Impact Ventures made its first investment in OpenUp several years ago. Ilonka Jankovich, partner at Rubio: “We saw a team with a clear answer to a persistent problem: anyone in Europe who needs mental health support waits months. We are delighted to contribute to the next step: establishing OpenUp as the European standard for workplace mental health support.”
About OpenUp
OpenUp helps employees thrive, both at work and beyond. Through an accessible platform, OpenUp provides direct support to build and retain resilient, engaged teams. Its services span three areas: personal sessions with psychologists, physical health experts such as nutritionists and sleep specialists, and financial experts; interactive group sessions; and online courses. Unlike traditional EAPs or occupational health services, OpenUp focuses on direct, preventive support for mental health challenges. Support is anonymous, free from waiting lists, and available in more than 35 languages. More than 2,000 organisations and 600,000 employees and their families rely on OpenUp to reduce absenteeism, improve retention, and strengthen employee productivity and engagement. For more information: www.openup.com
About Smartfin
Smartfin is a European venture and growth capital investor managing more than ā¬600 million in assets. It focuses on B2B technology companies at the start-up and growth stage across Europe and the United Kingdom, with no predetermined investment horizon. The Smartfin team has a proven track record in venture capital and private equity, combined with deep operational experience in building and leading leading international technology companies. That unique combination makes Smartfin more than an investor: an entrepreneurial, hands-on partner that actively contributes to the success of its portfolio companies.
About Rubio
Rubio is a European impact investor managing ā¬220 million across three funds. Rubio invests in young growth companies that create scalable solutions to pressing challenges, from climate and biodiversity to education and well-being. The fund ties 100% of its remuneration and results to independently verified impact objectives, ensuring that financial success and positive impact go hand in hand. For more information: rubio.vc
