The Rise of Remote Work and the Need for Global Payroll Solutions

The global freelancer market is a rapidly growing industry, fueled by more than 200 million knowledge workers. This growth has led to an increased demand for solutions that can automate payroll and streamline employment and tax regulations worldwide. However, many existing products struggle to address the complex legal landscapes of emerging markets, such as differences in employment laws.

• The traditional reliance on third-party payroll providers has often left global hiring platforms navigating these complex regulations themselves.
• This leads to a subpar experience for workers, who frequently face delays in receiving their wages and incur significant remittance fees.

Cadana: A Solution for Streamlining Remote Work Payroll in Emerging Markets

Cadana, founded in 2021, offers APIs and white-label products that empower global workforces to integrate payments and payroll management into their existing systems. The company focuses on addressing the specific needs of emerging markets.

• Cadana simplifies payroll for major talent marketplaces, staffing companies, and HR providers, enabling them to pay workers in over 32 emerging markets including Brazil, Ghana, Nigeria, Pakistan, and the UAE.
• The company's mission is to make it easier for workers in these regions to access global job opportunities.

Addressing the Challenges of Traditional Payroll Systems

Cadana tackles the pain points experienced by both employers and workers in the remote work space, particularly in emerging markets.

• Eliminating Delays and Fees: Cadana enables workers to receive payments in real-time, reducing the traditional waiting period of up to a week and eliminating high remittance fees (up to 5-7%).
• Simplified Compliance: Cadana ensures compliance with local labor laws, eliminating the complexities that often hinder companies from operating in these markets.
• Improved User Experience: Cadana provides a seamless and efficient payment experience for both employers and workers.

Cadana's Business Model: Serving the Needs of Remote Work Businesses

Cadana caters to a diverse clientele, including businesses in the U.S. and the U.K. that employ thousands, even tens of thousands of workers in emerging markets.

• Tiered Solutions: Cadana offers three tiers of solutions to accommodate the various needs of its clients. These include white-label solutions for businesses seeking a quick and easy integration, custom component development options with Cadana support, and a comprehensive API suite for businesses seeking full control over their payroll systems.
• Strategic Partnerships: Cadana views global HR platforms such as Deel and Rippling as potential customers rather than competitors. The company's focus on providing payroll APIs and white-label solutions allows it to serve as a valuable partner for these platforms.

Cadana's Impact: Driving Efficiency and Growth in the Remote Work Ecosystem

Cadana's solutions have had a significant impact on the remote work landscape in emerging markets.

• Increased Efficiency: Cadana's streamlined payroll process has enabled businesses to operate more efficiently and effectively in emerging markets.
• Financial Inclusion: Cadana's focus on providing access to real-time payments and financial services has empowered workers in emerging markets with greater financial control.
• Growth and Expansion: Cadana's innovative approach has attracted significant investment, enabling the company to grow its team, expand its product development, and scale into new markets.

Cadana's Future: Shaping the Future of Global Payroll

Cadana is well-positioned to play a key role in shaping the future of global payroll.

• Continued Innovation: Cadana will continue to invest in product development and innovation to further enhance its solutions and address emerging needs in the remote work space.
• Market Expansion: Cadana plans to expand its reach to new emerging markets, providing access to its services to a wider range of workers and businesses.
• Industry Leadership: Cadana is committed to becoming a leading force in the global payroll industry, setting new standards for efficiency, compliance, and worker empowerment.

Cadana's Competitors and Differentiation

Cadana faces competition from other companies that offer similar solutions, including UAE-based RemotePass, and global giants such as Deel and Remote.

• Focus on Emerging Markets: Cadana differentiates itself through its deep expertise and focus on emerging markets, particularly in Africa, Asia, and Latin America.
• Flexible Payment Options: Cadana offers a wide range of flexible payment options, including mobile money, bank accounts, and cards, catering to the diverse needs of workers in emerging markets.
• Legal Expertise: Cadana's team of legal experts provides specialized knowledge of local labor laws, ensuring compliance and minimizing legal risks for its clients.

Cadana's Achievements and Impact

Cadana has achieved significant success since its inception.

• Financial Performance: The company has processed over $150 million in transactions and has achieved profitability.
• Customer Growth: Cadana has experienced a 3x increase in customers over the past year.
• Revenue Growth: The company's revenue has increased 11x over the past three years.
• Worker Empowerment: Cadana has helped save workers in emerging markets over $2.5 million in fees.