Specializing in sales compensation software, Qobra, has just secured €5 million in a finance round led by Breega with participation from business angels.
Founded in Paris in 2020 by Antoine Fort, Tanguy Moullec and Axel Poitral, Qobra has developed an easy-to-use digital sales compensation platform for businesses. Cash compensation for sales teams is the single largest sales cost component for most B2B companies. Despite this, companies struggle to manage sales commissions efficiently, often relying on manual, complicated and time-consuming processes and Excel files that are difficult to decipher and prone to errors.
This is where Qobra comes in. With its innovative no-code platform, the startup’s solution combines the flexibility of an excel sheet with the power of software – enabling companies to automate any commission calculator rule quickly and seamlessly. Improving confidence and motivation of teams.
Antoine Fort, co-founder and CEO of Qobra, explained: “Commission calculation is both complex and critical. Every company has a unique commission plan that is even more complex than payroll because it involves a lot of business data, stored in varying tools, with different rules for different teams, which also tend to change over time.”
Any company regardless of size, sector or geography that pays variable compensation to its sales teams can use Qobra. They simply connect Qobra to their CRM and then define the calculation rules in the formula editor.
In just 12 months, Qobra has dealt with over €100 million in commissions on its platform from a number of large clients, including Doctolib, Spendesk, Agicap and LaForêt Immobilier.
Thanks to this first round of financing, Qobra will be able to recruit around 30 new talents, notably in its Tech & Product teams, and continue developing its software offering with new features. The startup will add new integrations to support all major CRM, HRIS, ERP, Data Warehouse tools and introduce new formulas in its calculation rules editor.
Qobra’s ambition is to become the European leader in the sales compensation market and to go on to reform business sales processes by developing an entire software suite. Following this fundraise Qobra will accelerate its commercial development in France and internationally, starting with Germany and the UK.
Maximilien Bacot, Founding Partner at Breega added: “Qobra enables companies to motivate their sales teams by giving them a detailed real-time view of their current and projected commissions. With Qobra, companies can measure the effectiveness and impact on revenue of their compensation plans. All data is automatically exported to payroll software, reducing both errors and duplication. It is a powerful tool with real value-add that is set to grow. Breega is delighted to support the Qobra team in its ambition to become the leading European sales software suite”.
