visimoney
TLDR:
- Anna Money has acquired Australian business spend management platform GetCape for an undisclosed sum.
- The acquisition will help Anna Money enhance its UK offering and expand into the Australian market.
UK fintech Anna Money has made its first acquisition by acquiring Australian business spend management platform GetCape. The acquisition will help Anna Money enhance its AI-powered business account and tax app by integrating GetCape’s corporate card and expense management software. This move is aimed at strengthening Anna Money’s presence in the UK and entering the Australian market. With plans to create a new SaaS category to compete with Australia’s ‘big four’ banks, Anna Money will offer expense management and corporate cards designed to save small businesses time and money. The company’s initial steps include introducing a smart business current account and debit card in both markets, as well as credit cards for its UK customer base. This will be followed by the launch of products in areas such as invoicing, bookkeeping, tax calculations, and tax filing. To support its expansion in Australia, a new business unit called Anna Money Australia will be established, with GetCape’s founder and CEO, Ryan Edwards-Pritchard, serving as CEO. Together, the combined businesses aim to deliver B2B payments solutions through a ChatGPT-style AI assistant, providing business owners with the power of a finance team in the palm of their hand. GetCape, founded in 2020 in Sydney, raised $33.1 million in 2022 and employed 18 people at the time of acquisition.
