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Migrating from Carta to Cake
Migrating from Carta to Cake

I am currently using Carta to manage my Cap Table - how do I migrate the information into Cake? How long does it take?

Shannon Griffin avatar
Written by Shannon Griffin
Updated over a week ago

Looking to make the switch from Carta to Cake? We'd love to help you!

Still unsure if you're wanting to make the switch? Check out our Cake vs. Carta page here to see why it was the right move for a heap of other companies πŸ’ͺ

To ensure a smooth and quick transition from Carta, please follow these simple steps - the process is a piece of cake πŸ˜‰

  1. Sign up/create your account HERE. If you haven't done so already, take a moment to update your billing details HERE.

  2. Our Customer Success team has a heap of experience migrating companies from one registry provider to another and they'd be more than happy to handle the transfer of your existing Cap Table from Carta to Cake at no additional cost!

To kick off the process, we’ll just need the following exports from your Carta account:

  • Cap table: Generate the report with "Summary," "Detailed," and "Securities ledger by type and class" options selected.

  • Vesting report (ensuring all vesting details are included inc. any milestone vesting info)

  • Stakeholder details

Where to access these reports in Carta?

  • Access these reports by navigating to the Cap Table tab on Carta and selecting Run reports from the dropdown menu.

Please send us these reports for your Cake onboarding and our team can do the heavy lifting for you! Use the 'Let Cake Set You Up' within your Cake account to share the files for uploading, or open the chat πŸ’¬ and select 'Onboarding & Migration' when prompted to discuss directly with our support team!

We find with just these few reports it usually provides us with all the key information to get you set up for success on Cake but of course, if we find anything missing as we go through, our CS team will be sure to chat through what else they need! Additionally, if you have existing templates for your Stock Option Plan (e.g., Offer Letter, Stock Option Agreement, and Plan Rules), please share them with us for uploading into Cake.

N.B. For any supporting documents related to current offers, such as executed agreements, you should download these from Carta separately and directly upload to your Cake account after the CS team have completed the Cap Table migration. See our article here on Uploading & Sharing Documents in Cake.

Once the upload is complete, our CS team will schedule a quick 'Power Up' call with you to ensure a smooth transition and run through everything in more detail!

FAQs:

Carta is asking for the new Transfer Agent details - what details do I provide them?

How long does the migration process take?

  • Our CS team will have the information up and running for you within 2-5 business days!

  • Have a deadline for when your Carta subscription is coming to an end? No problem! Just let us know at the start and we'll prioritise where possible πŸ™

Can I issue replacement certificates to my shareholders on Cake?

  • Your securities are not canceled when you migrate from Carta to another service provider, like Cake. Instead, the 'certificates' that were previously issued through Carta in electronic form will need to be reissued.

  • You can issue each shareholder with a replacement Stock Certificate through Cake in a matter of minutes once the migration of the shareholder information is complete. Check out the below two articles to help you prepare for this!

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