ANNA Money has announced its acquisition of GetCape, a Sydney-based FinTech specialising in business spend management platforms.
This move underscores ANNA’s ambition to pioneer a new SaaS category, aiming to compete with Australia’s ‘big four’ banks – ANZ, CommBank, NAB, and Westpac.
While the exact value of the deal has not been disclosed, the move does signify a key milestone for the founder-owned firm ANNA, marking its first foray into the acquisition realm.
Through the integration of GetCape, the company is poised to combine corporate management with AI-driven business account management, positioning itself to cater to Australia’s estimated 2.5m small businesses.
It is also expected to benefit key industries including technology, healthcare, professional services, agencies, e-commerce, and retail.
Following the announcement, ANNA plans to roll out new products, starting with a smart business current account and debit card, followed by invoicing, bookkeeping, tax calculations, and tax filing services in Australia and the UK over the next two years.
This expansion marks the initial phase of ANNA’s broader mission to support small businesses globally.
Eduard Panteleev, Co-CEO of ANNA stated, “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.”
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