Cobee to be acquired by Pluxee, a global player in employee benefits and engagement

Pluxee, a global player in Employee Benefits and Engagement, today announces that it has signed an agreement to acquire 100% of Cobee, a Spanish Employee Benefits digital-native player. Balderton previously led Cobee’s Series A in 2021.

With this acquisition, Pluxee will deliver the first milestone of its targeted and disciplined M&A strategy as part of its strategic growth plan. The transaction is subject to approval by Spanish regulatory authorities.

Cobee is a fast-growing Spanish Employee Benefits player that has expanded its presence to Portugal and Mexico. The company serves more than 1,500 clients and 100,000 employee consumers with a broad multi-benefit offering, which includes over 12 products such as meal vouchers, training, health and life insurance, physical well-being and employee discounts, among others. Cobee’s best-in-class, modular technology has been pivotal to this success, enabling exponential growth since its launch in 2019. The company is expected to deliver +100% YoY organic growth in Fiscal 2024.

With over 330,000 employee consumers, Pluxee is a leading player in the Spanish Employee Benefits and Engagement market. The combination of Pluxee’s and Cobee’s talents, capabilities, and technology will create the most complete, competitive, and attractive solution in Spain and Mexico, broadening the Group’s existing benefits offering and enhancing its tech capabilities at global scale.

Read more on Balderton’s journey with Cobee from Suranga here.