Coverflex raises €5 million

Portuguese compensation management startup Coverflex  closed a €5 million seed round. Founded in 2019 and now a team of 30, the startup helps companies manage every part of compensation beyond salary — benefits, insurance, meal allowance, and exclusive discounts.

“Our mission is to be the place where the compensation takes place and is managed by those who assign and receive, making us the true definition of “Compensation-as-a-service.””

Bottom Line: Used by over 3,000 employees.