n 2023, we proudly reached the 100,000 mark: over 100,000 people are using Coverflex in Portugal. More than 45 thousand childcare vouchers were issued through our platform. We started the year with fewer than 100 team members and grew to 125: 125 people working to revolutionise compensation in Portugal, Italy, and Spain. We expanded in various aspects, and today, we share that growth with you.
Always remote and from more places
We went from 90 to 125 Coverflexers, working from 64 cities across 6 countries: Portugal, Spain, Italy, Brazil, the Netherlands, and Germany. There are 8 native languages at Coverflex - Portuguese, English, Spanish, Catalan, Italian, Bergamasco, French, and German - with English being the language used within the company.
More companies trust us
At the end of 2022, around 3,200 companies and 60,000 employees used Coverflex. One year later, over 5,000 companies and 100,000 employees in Portugal use our solution. Companies invested €105,643 in Coverflex Meals, spending a total of €170.79 million on Coverflex in 2023.
Most used benefits
In 2023, Retirement and Investment products remained the top choice for Coverflexers, at 36.48%, followed by 47,634 Coverflex Childcare vouchers (18%) and Professional Training (13.02%).
And the investment in each of them
On average, each Coverflexer who chose to invest their benefits in Retirement and Investment products invested 2,568 euros during 2023. The investment in professional training was €8.5 million: Coverflexers who used their benefits for education and training invested an average of 1,390 euros.
Donations
In 2023, we expanded our network of institutions, and our heart: a total of 40 thousand euros was donated through Coverflex.
Coverflex Salary Calculator
Over 45 thousand people used the Coverflex net salary simulator, launched in 2023. The simulator also includes benefits and meal subsidies.
We are here to help
In 2023, on average, we took less than 30 seconds to respond to those who chatted with us (12 seconds faster than in 2022), resolving 3,500 chats per month. People we assisted rated our customer support at 94.6%.
Our events
2 financial literacy webinars, 7 "Breakfasts with Benefits," and for the third consecutive year, we organised the event on the study "The State of Compensation," which set a new participation record (2,247 responses).
We became a B Corp
We are now a B Corp! This means we are part of a global community of companies that meet high standards of social and environmental impact. In addition to obtaining this certification, we were also recognised by various entities:
- By Great Place to Work® as the best company to work for in Portugal in the category of companies with 51-100 employees and one of the best companies to work for in Europe in the category of companies with 50-499 employees. We also received the award for the best national company in the human development category;
- By Wired magazine, for the third consecutive year, as one of the 100 "hottest startups" in Europe;
- By Europas, as the hottest InsureTech in Europe;
- By WorkWell, which awarded us two prizes: the Safest Psychological Workplace in Portugal and the People's Choice.
As we have said many times, we do not intend to stop here. 2023 was more than a chronology of events at Coverflex; it was a narrative of dedication, collaboration, and ambition. We grew, went further - and we still have a lot more to do. We enter 2024 with the lessons from the previous year and a renewed commitment to revolutionise workers' compensation and help implement (even more) flexibility in companies.
