Gogeta provides a platform enabling employees to reduce taxable income by paying for expenses like nursery fees and cycle to work schemes directly from their gross salary. This salary sacrifice mechanism allows individuals to increase their take-home value without altering their base compensation. The service is designed for simple integration, offering financial benefits to employees while remaining cost-neutral for employers.
Funding
Funding not disclosed
Founders
Product
Problem
Employees often face challenges in affording essential expenses like nursery fees, bicycles for commuting, and household appliances due to the impact of taxes and national insurance contributions on their take-home pay. Traditional methods of purchasing these items require using post-tax income, reducing the overall affordability and financial well-being of employees.
Solution
Gogeta provides a salary sacrifice platform that enables employees to pay for nursery fees, bicycles, and household appliances directly from their gross salary, before taxes are deducted. By reducing their taxable income, employees can save money on these essential expenses through lower tax and national insurance contributions. The platform simplifies the process of accessing these benefits, making it easier for employees to manage their finances and improve their overall financial health. Gogeta also benefits nurseries and bike shops by facilitating payments and increasing accessibility for employees.
Target Audience
Gogeta primarily targets employers looking to enhance their employee benefits package and improve employee financial well-being, as well as employees seeking to save money on essential expenses like childcare, commuting, and household goods.
Features
- Salary sacrifice arrangement for nursery fees, reducing the taxable income of employees.
- Cycle to work scheme offering flexible vouchers for purchasing bicycles and related accessories.
- Tech scheme allowing employees to acquire household appliances and electronics with interest-free payments over 12 months (coming soon).
- User-friendly platform accessible to employees, employers, and partner businesses.
- Automated savings calculations, demonstrating the financial benefits of using the platform.
- B Corp certification, reflecting a commitment to social and environmental responsibility.
- ISO 27001 certification, ensuring data security and privacy.