Cake raises $3m to help startups around the world scale

Cake Equity (Cake)  is looking to launch into 20 countries with A$3m raised from Jason Calacanis’s LAUNCH, TheSyndicate.com and Paul Naphtali’s Rampersand

What Is Cake Equity 

“At Cake, we want to be the catalyst for more startups to get funded so that they can change the world while making sure that their teams share in that success,” Cake Equity co-founder Jason Atkins said.

Cake’s SAAS equity management platform aims to speed up the complicated process of managing and unlocking equity whilst remaining legally compliant. 

It helps startups and scaleups manage employee options, raise capital and manage shareholders.

The software  provides services from signing to calculations and comes with built-in legal agreements to keep track of equity transactions.

It allows companies to better incentivise staff by cutting out some of the administration around offering employee share options.

Customers 

Co-founded by Atkins and Kim Hansen, Cake has more than 2,000 companies and 50,000 shareholders using its platform, including Who Gives a Crap, Vow and Fresh Equities. 

Investees 

The latest raise included participation from Airtasker (ASX: ART) co-founder Jonathan Lui and Practice Ignition co-founder Guy Pearson.

“We’re inspired by Cake’s aspiration to empower more founders and their teams to change the world u- because at Rampersand we share the same vision,” co-founder and managing partner at Rampersand, Paul Naphtali enthuses to Neil Dorgan of Business News Australia .

“Cake is further proof that Australian start-ups can create the best global technology solution to fundamental problems, and we look forward to accelerating Cake’s impact within the start-up ecosystem.” 

Charity 

In May 2021, Cake joined Pledge 1%; a movement co-founded by Australian software giant Atlassian that sees companies donate 1 per cent of shares to philanthropic organisations.

Neil Dorgan of Business News Australia .