This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Cobee, an online platform that unifies, simplifies and automates the management of social benefits and flexible compensation of employees, is one of the 10 pre-selected Spanish projects (56 worldwide) in the first phase of the eleventh edition of BBVA Open Talent, the largest fintech startup competition in the world.

In the next few weeks, startups that will compete in the final round, in which a dozen companies will participate, will be decided in a pitch meet. In addition to a prize of up to 100,000 euros, the winners and finalists of BBVA Open Talent 2019 will be able to enter the bank's acceleration program, and request a place to participate in the BBVA proof of concept program.

Founded in 2018 by Borja Aranguren and Daniel Olea, this startup offers the possibility to any company to adhere to a flexible compensation plan that allows them to retain talent and increase the motivation of their employees; without intermediaries, without the need to make investments and without increasing the company's management costs.

An “all in one” platform

The system developed by Cobee allows to unify in a single tool all the benefits that can be offered to employees: meals, nursery, transportation, medical insurance, training, pension plans, etc. The company hires the service, discharges its employees and configures the benefits that it will offer through the web platform, quickly and easily and without intermediary providers that raise management costs.

Its platform is linked to an app and a VISA card that each employee receives in order to pay for meals, transportation, daycare, training or medical insurance. The Cobee formula allows the user to enjoy flexible compensation as he uses it (without forecasts or money blockages) and has a digital interface that shows the user the consumption made and the savings achieved in each of them (equivalent to the percentage of applicable personal income tax). In this way, in addition to significantly reducing the daily time dedicated by the company to manual management, Cobee manages to increase the adherence and satisfaction of employees significantly.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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