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UK FinTech ANNA acquires GetCape with expansion in Australia

By Gloria Mathias

March 14, 2024

  • ANNA Fintech
  • Anz
  • APAC Fintech news

ANNA Fintech, GetCape, Fintech Solution, Artificial Intelligence, Business Spend Management, Corporate Spending, Australia, Expansion news, Fintech Acquisition, ANNA, an AI-powered FinTech has announced the acquisition of 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.

With the acquisition of GetCape, ANNA will have the capability to blend corporate management with AI-powered business account management to serve Australia’s small businesses. The key industries that will benefit are technology, healthcare, professional services, agencies, eCommerce, and retail.

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 the next two years. The expansion signals the first step in its goal of supporting small businesses worldwide.

Eduard Panteleev, Co-CEO of ANNA said, “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, shared, “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.”

GetCape is an Australian business spend management platform that issues corporate cards to help companies strengthen their cash flow. It provides businesses with full visibility and control over purchasing so they can cut wasteful spending and save time on their expense management admin.

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