ANNA is announcing that they’ve acquired GetCape, a Sydney-based fintech that operates as a business spend management platform.
The acquisition signals ANNA’s aim to “create a new SaaS (software as a service) category to take on Australia’s ‘big four’ banks, ANZ, CommBank, NAB and Westpac, offering expense management and corporate cards designed to save small businesses time and money.”
The move marks founder-owned ANNA’s first acquisition.
With the acquisition of GetCape, ANNA will reportedly “have the capability to blend corporate management with AI-powered business account management to serve Australia’s estimated 2.5 million small businesses.”
The key industries that will benefit “are technology, healthcare, professional services, agencies, e-commerce and retail.”
GetCape established itself as a key player in “the Australian business spend management market, which is valued at more than $USD 21 billion globally.”
ANNA will start by launching “a smart business current account and debit card, followed by further products including invoicing, bookkeeping, tax calculations and tax filing in Australia and the UK over a two-year period.”
The expansion signals the first step in our goal of “supporting small businesses worldwide.”
Eduard Panteleev, Co-CEO of ANNA says:
“This acquisition is a monumental step in our journey and we’re so excited to be joining Australia’s dynamic startup landscape. Entering the Australian market with GetCape at our side empowers us to bring our award-winning financial services to Australia’s vibrant business community and help them to thrive.”
Ryan Edwards-Pritchard, founder and CEO of GetCape who will stay on in the newly-created role of CEO of ANNA Money Australia commented:
“Joining forces with ANNA Money is a huge step forward – integrating our software IP with their trusted platform means we can create the ultimate B2B payments solution. This will all be delivered via a best-in-class ChatGPT-style AI assistant that provides business owners with the power of a finance team in the palm of their hand, just without the unnecessary headcount.”
Founded in 2020, GetCape is an Australian business spend management platform “that issues corporate cards to help companies strengthen their cash flow. It helps businesses with full visibility and control over purchasing so they can cut wasteful spending and save time on their expense management admin.”
In 2022 GetCape launched a free corporate card “with 0% FX fees on the front end, powered by real-time expense management software.”
