Spanish employee benefits management startup Cobee secures €2.1M funding

Automation and digitisation are long overdue in the employee benefits management space. And, several companies are emerging in this sector to reinvent the way benefits are disbursed. The Spanish employee benefit management startup Cobee is one such startup that aims to revolutionise the industry.

Founded in 2018 by Borja Aranguren and Daniel Olea, Cobee is an innovative, market-disrupting, and effective employee benefit management platform. Its simple system provides clients with different benefits and products to their employees including transport, meals, medical insurance, nursery, etc. without managing various providers and facing major administrative tasks.

Secures €2.1M funding

Cobee has announced the closure of a Pre-Series A funding of €2.1 million led by international investors Speedinvest and Target Global along with participation from other investors such as Chris Bouwer, the Adyen co-founder, and existing investors including Sabadell VC (Banco Sabadell), vz Encomenda Smart Capital, Lanai Partners and Abac Nest.

This investment has come after Cobee witnessed a success year that positions it as a key player in the HR management sector. In 2019, this startup surpassed 750 companies across the world and became the winner of the BBVA Open Talent 2019, which is the biggest fintech startup competition in the world.

Eyes global expansion

Cobee intends to use this investment to scale up its business in Spain and gradually expand into international markets. And, to support its mission of progressing into a category leader in Europe. The company is in plans to strengthen its team and enhance the platform by adding new products and benefits.

Wide range of clientele

Within two years of its inception, Cobee has been adopted by companies such as Glovo, Gympass, Willis Tower Watson, Avis Budget Group, Opinno, and Petronas. It lets employees control and manage their compensation and benefits in a comfortable and flexible manner just with their smartphones.

Main image picture credits: Cobee

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