Cobee, the startup that revolutionizes the way of managing employee benefits

CobeeSpanish StartupsStartups

Digitization extends to the Human Resources sector, paper tickets are no longer valid.

Although flexible payment is something that has been around for a long time, a growing number of companies are using this method to offer better working conditions to their employees. And even further this year, in which due to the pandemic, many companies will not be able to assume a salary increase and will have to use that kind of methods to continue motivating their teams.

This context has led to a digitization process in which Cobee comes into play. With the aim of being disruptive and breaking with the pre-established, they provide to any company a digital tool that helps Human Resources departments to manage their employee benefits.

How does Cobee work exactly?

Cobee is a very simple app for both companies and employees that integrates all the benefits in the same platform.

For Human Resources departments the procedure is simple, fast and without intermediaries. The company hires the service, registers its employees and configures the benefits that you are going to offer them through the web platform; as many as you consider. In addition you have the freedom to create specific plans for groups, offering some products or others depending on the situation of each employee.

Cobee offers a VISA card and an app for each employee. At that moment, the employee is free to decide how to consume his/her benefits: choose where, pay with Cobee and obtain instant savings. In addition, you can see what is being saved in each consumption through the app .

How does the Cobee story begin?

Cobee’s history begins at the end of August 2018, when Borja Aranguren, an engineer by training, decides to start his own path in the world of entrepreneurship after having gone through McKinsey and other well-known startup companies such as Ontruck.

At the end of October of that same year, Daniel Olea joined the project as CTO and together they began to work on a first version called “DoEatEasy” with which they intended to validate the idea and get their first clients (which they did only 3 months later).

In its initial phase, Cobee had the support of FFF, among which Iñigo Juantegui, CEO of Ontruck and co-founder of La Nevera Roja, stands out. After validating the product, at the beginning of 2019, they completed their seed round of 360,000 euros with Encomenda, Abac Nest, Sabadell (through Bstartup) and Lanai. 

DoEatEasy is renamed Cobee after validation, and at the beginning of 2020 it closes a Pre-Series A round worth 2.1 million euros, in an operation led by European investment funds like Speedinvest and Target Global, and by the successful international business angel Chris Bouwer (co-founder of Adyen).

Despite the situation caused by Covid-19, Cobee has kept on growing exponentially both in revenue and in number of customers. All these factors and the recent expansion movements to Portugal, place Cobee as one of the leading startups in the national ecosystem.

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