Today it is very common for companies to offer benefits to their workers, such as food vouchers, a gym, dental insurance, training courses or even teleworking. The possibilities are numerous, and sometimes employees end up unaware of them. For this reason, there are companies whose objective is to guide workers among all these offers, such as Cobee, a Spanish start-up, whose mobile application is being a complete success.

Many services. The Cobee app offers certain facilities to its users, such as a virtual payment card -which can be requested in physical format- and a classification of the benefits to which one has access, such as catering services, transportation, childcare, training and life insurance. In addition, the company is working on including benefits related to physical and mental well-being, which are increasingly in demand.

Fast growth. Thanks to this innovative instrument, Cobee has managed to triple its revenues and raise 40 million euros in a series B financing round. This will allow the company to continue growing in Spain, Portugal and expand in Mexico as well as in other southern countries. Europe. In our country, specifically, it is expected that, in the next year and a half, Cobee’s workforce will exceed 200 people.

Investor confidence. The growth of this start-up, founded in 2009 by Borja Aranguren, Nacho Travesí and Dani Olea, shows that this market for employment benefits is expanding. In 2021, the French company Swile obtained 200 million euros of financing and the North American companies Format and Chicago obtained close to 40 and 60 million euros last year, respectively. In Europe, yes, Cobee is one of the strongest companies and currently has the financial support of Octopus Ventures and Notion Capital, investment companies.

new need. According to Nick Sando, director of Octopus Ventures, this expansion is due to increased competition and mobility in the labor market, which has meant that the benefits offered by companies to their workers have become a necessary tool for recruiting and employee retention. Undoubtedly, the great resignation has caused many companies to seek any way to prevent the departure of their workers, which has benefited this new form of business.

you have to adapt. In fact, major brands are already updating. Cobee, for example, offers its services to more than 800 companies, including Glovo, Petronas, Michelin, Booking and Línea Directa. For its part, the French Swile has signed contracts with Carrefour, Spotify and Airbnb in France.

Alternatives. Economic changes can have a bad influence on many companies. Today, for example, we see it with the big technology companies and with cryptocurrencies. However, these fluctuations, in conjunction with the evolution of new technologies, can also generate new opportunities. This is the case of this new market in which Cobee operates, necessary for workers and for companies.

Image: William Hook/Unsplash


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Tarun Kumar

Tarun Kumar has worked in the News sector for 05 years and is currently the Owner and Editor of Then24. He reside in Delhi, India with his Family.

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