Cape

Cape, founded in Sydney in 2020 by Ryan Edwards-Pritchard, operates as a financial technology firm focused on spend management for businesses in Australia and New Zealand. The company's establishment was driven by the founder's vision to simplify expense reporting and empower employees with controlled access to company funds, thereby eliminating tedious administrative tasks. Edwards-Pritchard's background includes a significant role as the Managing Director for Europe's largest digital marketplace for SMB finance, Funding Options, where he gained extensive experience in scaling a fintech company, managing go-to-market strategies, and international expansion. This journey provided him with the foundational knowledge to launch Cape just before the pandemic.

The company provides a platform that combines corporate cards with expense management software, designed to help businesses control spending and improve cash flow. Cape's core product is a charge card that offers businesses credit limits ranging from $5,000 to $500,000. The platform allows for the issuance of both physical and virtual corporate cards, which come with features like configurable spending limits, purchase restrictions, and real-time tracking. This service targets a range of clients, from small businesses to larger tech teams, helping them consolidate software subscriptions, manage budgets, and reduce foreign exchange fees on international transactions. Revenue is generated through monthly plan subscriptions which start at $39.99 and vary based on the credit facility size and features used.

In March 2022, Cape announced a significant pre-seed funding round of A$33.1 million, a mix of debt and equity, from investors including Aura Ventures and Investible. A major milestone in the company's history occurred in early 2024 when it was acquired by ANNA Money, a UK-based AI-powered financial administration platform. This strategic, scrip-based acquisition marked ANNA Money's first international expansion and its entry into the Australian market. Following the acquisition, Ryan Edwards-Pritchard assumed the role of CEO of ANNA Money Australia, continuing his journey with the integrated entity. The combined force aims to challenge Australia's major banks by offering a comprehensive suite of services, including AI-driven expense management, business accounts, and tax assistance.

Keywords: expense management, corporate cards, spend control, financial technology, fintech, business payments, cash flow management, SaaS, B2B payments, Ryan Edwards-Pritchard, ANNA Money, Australian fintech, expense reporting, virtual cards, spend management platform, corporate finance, accounts payable automation, receipt tracking, financial administration, SMB finance solutions