Funding

[Funding alert] Paris-based Qobra Secures €10 million Series A Round Funding

Oct 3, 2023 | By Startup Rise EU

Paris-based Qobra Secures €10 million Series A Round Funding .A fundraising orchestrated by Singular, with the participation of the UK investor group Revenue Syndicate and our long-standing investor Breega.
Team - Qobra

Paris-based Qobra Secures €10 million Series A Round Funding. A fundraising orchestrated by Singular, with the participation of the UK investor group Revenue Syndicate and our long-standing investor Breega.

Read also -  Paris- based HCVC Raises $75 million of it’s Second Round Funding

Although the annual amount dedicated to variable remuneration for sales reps represents between 2 and 3 trillion dollars, Antoine Fort, Tanguy Moullec and Axel Poitral, three Centrale Supélec alumni, realized that this investment was rarely controlled.

Read also - London-based Startup Unitary Secures $15 million Series A Round Funding

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With this new €10m round of funding, Qobra's mission continues, and will begin in particular by accelerating new international acquisitions, especially in the UK, where we will be opening an office in London early 2024.

With the ambition of becoming the world's number 1 commission management platform, this round of financing will also enable us to double our workforce in 2024, from 30 to 60 employees!

Read also - Amsterdam-based Orquesta Raises €800K in pre-seed Funding

Commission management often relies on manual spreadsheets, which lack clarity, agility and reliability. Manual errors easily slip into Spreadsheets, causing, among other things, numerous back and forths between different departments.

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Antoine Fort, co-founder and CEO of Qobra said, "Sales Compensation is the number one go-to-market investment for the vast majority of B-to-B companies, and the commission plan is one of the most powerful tools Management can use to guide salespeople's behavior. We are part of the new generation of software that is more flexible and more motivating for sales reps."

About Qobra

Qobra was founded in 2020, Antoine Fort, Tanguy Moullec and Axel Poitral, three Centrale Supélec alumni, found Qobra to revolutionize sales commission management.

World-class Sales teams have world-class Sales compensation plans. Qobra is a next generation Sales Compensation Software automating calculation, adjustments & approvals of Sales Commissions. Save time, build trust and drive growth.

Read also - Berlin-based Proptech Startup Novo Raises €1 million Pre-seed Funding

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