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How Cake saved +$3k per hire in compliance costs with Deel

Industry
Fintech
Location
Australia
Company size
51-200
Founding year
2019
On Deel since 2022
Website
-50%
less time spent on admin and hiring compliance
-3000USD
saved per hire on compliance costs

Innovative global equity management

Cake is on a mission to simplify employee equity plans through its comprehensive platform, so worldwide companies can distribute equity options among employees in minutes. Founded in 2019  with a starting team of 4, Cake has rapidly scaled to a team of over 25 that offers cap table solutions in over fifty countries.

Global hiring for a global company

Managing equity plans has long been burdensome. Cake has always believed that global equity should only be a click away and be fair for all. This borderless philosophy extends to how Cake wants its team to work— with flexibility and mobility.

However, getting boots on the ground in strategic regions and hiring globally can be expensive, time-consuming, and fraught with risk. Cake needed a plug-and-play solution that could help it achieve its global hiring ambitions with the least amount of administration possible. However for Cake, it was also critical that all international team members got access to all of the same perks and cultural benefits that its local team did, and that there was no feeling of separation through their engagement.

Expanding easily to the US and beyond

With Deel, Cake quickly hired key roles across the world, with a particular focus on having a US presence. 

“Global hiring really isn’t cost-effective unless you are hiring over ten employees in a single jurisdiction. This is especially true in the US, where employment law can vary widely from state to state and the risks of getting something wrong are severe. With Deel, I had the confidence that we were doing things right, and that our team was being properly looked after,” said Charlie Ross, Chief Operating Officer at Cake.

Making locally relevant offers was also a priority, ensuring that local perks and working conditions were in line with—or exceeded—market expectations.

“We wanted to make sure that we were not only paying our team competitively but that we offered the right superannuation and perks so that we are an employer of choice. This is a big part of our mission to have a global team that feels connected, motivated and cared for,” said Ross.

All-in-one solution

With Deel, Cake has successfully hired roles in the US and the Philippines. Utilizing features like one-click payroll and an intuitive dashboard, Ross now spends half as much time on employee-related admin for the international team.

Deel’s team of compliance, law, and payment experts ensures that every hire is relevant and compliant. Employees also love the solution, as they have easy access to tax documents and statements.

Now that global hiring is taken care of, Cake can focus on offering best-in-class equity plans to businesses worldwide.

Deel features they Love

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Simple and robust compliance.

Deel's  team of compliance, law & payments experts makes sure that all documents and hires are compliant all the time, no matter the location.

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