ANNA acquires GetCape in Australia

13 March, 2024 · 4 min read

ANNA is excited to announce that we’ve acquired 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.

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ANNA’s first acquisition

The move marks founder-owned ANNA’s first acquisition. With the acquisition of GetCape, ANNA will have the capability to blend corporate management with AI-powered business account management to serve Australia’s estimated 2.5 million small businesses. The key industries that will benefit are technology, healthcare, professional services, agencies, e-commerce and retail.

GetCape established itself as a leader in the Australian business spend management market, which is valued at more than $USD 21 billion globally.

New products

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 a two-year period.

The expansion signals the first step in our goal of supporting small businesses worldwide.

Eduard Panteleev, Co-CEO of ANNA says: "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.”

About GetCape

Founded in 2020, GetCape is an Australian business spend management platform that issues corporate cards to help companies strengthen their cash flow. It helps businesses with full visibility and control over purchasing so they can cut wasteful spending and save time on their expense management admin. In 2022 GetCape launched a free corporate card with 0% FX fees on the front end, powered by real-time expense management software. GetCape was one of three Australian startups selected from 3,000 global applications to take part in 2023’s TechCrunch Startup Battlefield event at Disrupt in San Francisco. GetCape was awarded 'Most Innovative Expense Management Software Developer' at Wealth & Finance 2023 Global Fintech Awards.

About ANNA

ANNA is an AI-powered business account and tax app for small businesses. Supporting more than 100,000 UK businesses, ANNA’s vision is to make life easier for small business owners by handling the boring admin so they can focus on growing their businesses. That means everything from generating invoices to chasing payments, receipt scanning and helping to set aside the right amount of money for tax.

ANNA stands for  ‘Absolutely No Nonsense Admin’ and we try to live by those words. ANNA  won Best Application of AI or ML in Financial Services at the 2023 Card and Payments Awards and has a 4.6 rating on Trustpilot.

The company continues to pioneer the use of AI, machine learning and Large Language Models (LLMs) to make things simpler and easier for small businesses across the UK – and now Australia. With the acquisition of GetCape, we’re looking forward to bringing expense management and credit cards to our UK customers.

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