PriyaPatelTLDR:
- ANNA Money acquires GetCape, a Sydney-based FinTech
- ANNA aims to compete with Australia’s ‘big four’ banks by offering business spend management platforms
ANNA Money has recently acquired GetCape, a Sydney-based FinTech specializing in business spend management platforms. This strategic move by ANNA signifies its ambition to compete with Australia’s major banks, ANZ, CommBank, NAB, and Westpac. The acquisition marks a significant milestone for ANNA as it ventures into the acquisition space for the first time. By integrating GetCape’s technology, ANNA plans to offer a new SaaS category that combines corporate management with AI-driven business account management, catering to Australia’s estimated 2.5 million small businesses across industries like technology, healthcare, professional services, agencies, e-commerce, and retail.
Following this acquisition, ANNA intends to launch new products, starting with a smart business current account and debit card, moving on to invoicing, bookkeeping, tax calculations, and tax filing services in Australia and the UK over the next couple of years. This marks the initial stage of ANNA’s broader mission to support small businesses globally, with Eduard Panteleev, Co-CEO of ANNA, expressing excitement about the new venture. Ryan Edwards-Pritchard, founder and CEO of GetCape, will assume the role of CEO of ANNA Money Australia, emphasizing the strategic benefits of integrating their software IP with ANNA’s platform to deliver an advanced B2B payments solution with an AI assistant.
