Cobee Arrives in Mexico to Transform Employee Benefits

Cobee, the Spanish startup that is revolutionizing employee benefits, has entered Mexico as part of its internationalization plan. 

“Arriving to Mexico is a huge milestone for Cobee, not only because it represents growth and reinforces that we are on the right track but also because we are starting a new chapter in another continent, and what better way to do it than by setting foot in Mexico, one of the biggest markets in employee benefits in the world. We are looking forward to doing great things in this new market filled with talent and opportunity,” Ignacio Travesí, CSO and Co-founder, Cobee, tells MBN.

After launching in Spain in 2019 and expanding to Portugal in 2021, Cobee is now betting on Mexico due to the boom in its employee benefits sector. “We are very proud to offer the Mexican labor market the possibility of enjoying all the advantages that Cobee offers,” says Travesí in a press release. Mexico is a country where benefit programs have been well established for a long time, “which is why we have carried out a great process of research and market recognition and we have formed a local team of more than 20 people with extensive experience in the industry, which allowed us to fully adapt our solutions to the different needs of Mexico,” he adds.

Cobee will offer different benefit programs that adapt to the needs of Mexican employees through a flexible platform that automates and centralizes management. Thanks to Cobee, employees have the only card on the market that unifies all their benefits in one place, allowing them to enjoy all their benefits without complications, according to the Spanish startup. In addition, Cobee offers an app where employees can check all their transactions in real time from their phone, giving them greater control over the use of benefits. This flexibility and enhancement of employee benefits is a global trend that is expanding into the Mexican market, says the company.

Cobee Revolutionizes the World of Employee Benefits

Cobee partners will be able to centralize all the benefits they grant to employees through a single platform, rather than dealing with diverse providers. Having a single provider will allow businesses to reduce administrative costs. On the other hand, employees will be able to access their benefits flexibly through a single card, easily managing them from the Cobee app instead of using different cards or dealing with customer service from different service providers.

Cobee is trusted by globally recognized brands such as Ogilvy, Booking, Workday, Avis, WPP, Wizeline, Resuelve tu Deuda and Total Energy.

“We want to be closer to the needs of our collaborators. For this reason, the next step is to focus more on other macro trends that are increasingly present in the corporate benefits market, and that do not have to have advantageous taxation. We are talking, for example, of all the services related to physical or emotional well-being,” says Travesí.

Founded four years ago, Cobee has over 160 employees in Spain, Portugal and Mexico. The startup has positioned itself as Spain’s main benefit program management platform for employees, offering different products that improve their well-being, such as grocery and gasoline vouchers, gyms access or even payment for medical expenses.

Cobee has raised over US$60 million in different investment rounds with the support of investors such as Speedinvest, Target Global, Chris Bouwer, Octopus Ventures, Notion Capital and the Mexican fund DILA Capital. In addition to continuing its growth and increasing the number of employees, the company aims to continue expanding into other countries in the EU and Latin America.