- Business Banking Accounts ANNA has acquired GetCape, a business spend management platform. Terms were not disclosed.
- This acquisition is ANNA’s first and marks the UK-based fintech company’s entry into the Australian market.
- ANNA made its Finovate debut at FinovateEurope 2020 in Berlin, Germany.
business bank account Anna Acquired GetCape, a business spend management platform based in Sydney, Australia. Terms of the deal were not disclosed. ANNA’s first acquisition will further the company’s goal of creating a new SaaS category that competes with Australia’s “big four” banks for market share in the expense management and corporate card businesses.
“This acquisition is a monumental step in our journey and we are thrilled to be joining Australia’s dynamic startup environment,” said ANNA Co-CEO Eduard Panteleev. “By entering the Australian market with GetCape, we can provide award-winning financial services to Australia’s vibrant business community and help them grow.”
Named “Most Innovative Expense Management Software Developer” at the Wealth & Finance 2023 Global Fintech Awards, GetCape is an Australian corporate spend management platform that issues corporate cards to help businesses better manage their cash flow. GetCape’s technology provides companies with complete visibility and control over their business purchases, allowing them to find and eliminate wasteful spending and increase the efficiency of spend management.
Ryan Edwards-Pritchard, who founded GetCape in 2020 and will take on the new CEO role at ANNA Money Australia, called the acquisition a “big step forward”. He said: “Integrating our software IP with a trusted platform means we can create the best B2B payments solution. All of this will be delivered through a best-in-class ChatGPT-style AI assistant that gives business owners the power of their finance teams in the palm of their hands, without unnecessary headcount.”
UK-based ANNA made its Finovate debut at FinovateEurope 2020 in Berlin, Germany. At the conference, the company demonstrated its products. automatic tax calculation A solution that sorts declarations and VAT returns, automatically classifies and adjusts costs, and calculates VAT and taxes in real time. The app also works with the assistance of a chartered accountant to prepare tax and VAT returns and submit them to HM Revenue & Customs (HMRC).
In addition to its newly announced partnership with GetCape, ANNA recently collaborated with embedded finance and payment solutions provider Sonovate. Last February, ANNA unveiled a new expense card offering benefits including lower travel costs and improved cashback benefits.
Photo credit: Nathan Cowley