How small DeFi startup Arch made big moves growing their international team
Arch makes DeFi investing simple for newcomers and passive investors.
They're a team of builders using tech to help create better and more inclusive financial products. No matter what someone's level of expertise, they believe everyone should have access a diversified portfolio of crypto assets. A lot of investment platforms tend to gear towards insiders and traders. Arch aims to turn that notion on its head.
Arch started building out their startup team a few people at a time, with the first few in Latin America. With two members in Venezuela and others in Argentina, navigating potential penalties for compliance mistakes became time-consuming and stressful.
At the start, Arch paid their entire team using wire and ACH payments. It used to take time and effort to have to do all of the payments manually. As they began fundraising, founder Chris realized they needed to get all their accounting in one place. First, to keep compliant, and second to show vendors they mean business and everything is legitimate. Especially being in the financial sector, having a paper trail was crucial.
Arch was able to get set up on Deel in a matter of minutes. Contracts, invoices, and payments are now all taken care of in one place, and they have complete confidence that everything's compliant for team members in Latin America and beyond.
Since getting set up on Deel, Arch can now effortlessly sign contracts and put confidentiality agreements in place in a snap. All the time and effort of running payroll manually is now automatic thanks to easy banking connection and the ability to integrate their accounting software.
Having legal agreements in place and compliant record-keeping has helped build trust and show the team that as the company grows, so do the processes.
Instead of spending loads of time looking up tax laws, they now have peace of mind that everything is compliant, and all their team's payments happen in one place. It’s great for the team members to have a formal agreement in place with a paper trail of all of their payments and contract details. Smash’s team members are really happy and it’s made communication easier. It also signalled to the employees that the company was growing up and evolving and things are becoming more formalied.
Making sure every compliance document gets accounted for is easier than ever. No more chasing down KYC and other documents.
Creating contracts is a breeze with standardized templates. The entire process to create, send, and sign saves so much time.