visimoney
TLDR:
- UK Fintech ANNA has acquired Sydney-based GetCape to enter the Australian market and compete with the ‘big four’ banks.
- The acquisition will allow ANNA to offer expense management and corporate cards to small businesses in Australia.
In a strategic move, UK Fintech ANNA has expanded into the Australian market by acquiring Sydney-based fintech company GetCape. This acquisition marks ANNA’s first international expansion and is aimed at challenging Australia’s ‘big four’ banks by offering expense management and corporate cards designed to save small businesses time and money. ANNA plans to blend corporate card and cash flow management with AI-powered business account management and tax assistance to serve Australia’s estimated 2.5 million small businesses, with a focus on industries such as technology, healthcare, professional services, and retail.
The acquisition of GetCape will allow ANNA to launch a smart business current account and debit card in Australia, followed by additional products such as invoicing, bookkeeping, and tax calculations over a two-year period. This strategic move aligns with ANNA’s goal of supporting small businesses worldwide with cutting-edge technology and user-friendly financial services. Both companies are optimistic about the new opportunities this acquisition will bring to the Australian business landscape, with Brit Ryan Edwards-Pritchard taking on the role of CEO of ANNA Money Australia.
Overall, this acquisition signifies a significant step for ANNA in establishing a presence in the Australian market and offering innovative financial solutions to small businesses in the region.
