Cobee to get €2.1 million in pre-Series A funding led by Speedinvest and Target Global.
Cobee, a Madrid, Spain-based company providing a solution for employee benefit management, announced the completion of a €2.1 million ($2.3M) capital funding in pre-series A round.
The money round was led by Speedinvest and Target Global and included participation from Chris Bouwer and existing investors Encomenda Smart Capital, Sabadell VC (Banco Sabadell), Lanai Partners and Abac Nest.
The proceeds will be used to hire more people as the company aims to scale up its business model in Spain and expand into international markets.
Cobee, founded in 2018 by Borja Aranguren and Daniel Olea, developed a solution targeting employees looking to leverage better economic performance from their salary via a range of employee benefits and discounts offered through the platform.
These are managed within the Cobee app and redeemed through use of the Cobee payment card. The company works with customers including Petronas, Opinno, Glovo, Avis Budget Group, Gympass, and Willis Towers Watson.
Prior to this round, Cobee raised €375k in 2019.