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Cobee Has Raised €2.1M for Its Employee Benefits App and Payment Card

Cobee is a Spanish fintech startup that has created an employee benefits management app and an accompanying card and has raised €2.1 million in the pre-Series A funding.

The round was co-led by Target Global and Speedinvest. Besides, other backers are – Chris Bouwer (the co-founder of Adyen), existing investors Encomenda Smart Capital, Lanai Partners, BStartup (Banco Sabadell) and Abac Nest.

Daniel Olea and Borja Aranguren first founded Cobee in 2018, and it aims to aid the employees in levigating better economic performance from the given salary through a range of employee discounts and benefits offered via the platform. These are managed within the app and redeemed through the utilization of the Cobee payment card.

The co-founder and CEO of Cobee, Borja Aranguren, told TechCrunch that they had realized that there was an increasing number of solutions that were being sold as products or benefits to the end employees via their HR department. That meant administrative hassle for the HR departments to manage all various processes and providers and, importantly, on the other hand, brought an entirely fragmented and hazy value proposition for the employees.

With that problem in mind, Aranguren and Olea planned to build Cobee, which the pair describe as a fintech HR solution as it can empower the employees to consume their benefits and compensation on-demand.

The present Cobee is offering benefits like transportation, childcare, meals, training courses, and health insurance. Additionally, within the upcoming few months, gym membership and some other benefits are also coming. Also, Cobee is looking forward to expanding into international markets.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

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