Pay Management Firm Qobra Secures €10M in Series A
The French pay management company, Qobra, has raised €10 million in a Series A round led by Singular, with participation from the Revenue Syndicate and Breega.
Each year, companies spend trillions on variable commissions for sales teams, but they often waste resources by relying on error-prone spreadsheets, such as Microsoft Excel. In response, Qobra developed a no-code platform for precise rule-based calculations and automated commission management.
Source: Qobra
Qobra’s Impact on Key Stakeholders
Management
The platform offers management teams and senior executives a comprehensive view of performance and budget allocation.
“Since we’ve been using the Qobra tool, we’ve seen a 10% to 15% increase in results,” said Romain Darbon, Business Manager at Figaro Classifieds
Operations and Finance Teams
Qobra’s approach ensures the precision of commission data, saving valuable time for these teams.
“That’s about 4 days a month we’re saving with Qobra compared to Excel,” shared Maximilien Jooris, Head of Revenue Operations at Agicap
Sales Representatives
Sales teams can access real-time transparency regarding their objectives, turning variable commissions into a motivating factor for enhanced sales performance.
Qobra’s ambition knows no bounds. Following their initial funding round in March 2022, they achieved a remarkable annual growth rate of 300%. Their clientele spans over ten countries, including the United States, the United Kingdom, Canada, Brazil, Germany, Sweden, Denmark, Spain, Italy, and the Czech Republic, with prominent names like Doctolib, CoachHub, Make, Agicap, Figaro Classifieds, and Payfit.
Their mission continues with an accelerated expansion into the UK, opening a London office in early 2024. Furthermore, the recent injection will facilitate an expansion of their workforce from 30 to 60 employees in the same year, drive the development of new features, and expand product offerings.
