UK-based mobile business account ANNA has announced that it acquired Australia-based GetCape , a fintech company that functions as a business spend management platform. As per the information detailed in the press release, the acquisition of GetCape supports ANNA’s objective of developing a new Software-as-a-Service category and competing with Australia’s banks.

The service aims to provide expense management and corporate cards designed to support small and medium-sized enterprises (SMEs) and reduce the time and money they spend on operations. ANNA’s development strategy At the time of the announcement, the move represents ANNA’s first acquisition, allowing the company to merge corporate management with AI-enabled business account management to serve Australia’s approximately 2.5 million SMEs. The main industries that are set to benefit from this include technology, healthcare, professional services, agencies, ecommerce, and retail, among others. Furthermore, the press release underlines that ANNA intends to launch a smart business current account and debit card, followed by further products such as invoicing, bookkeeping, tax calculations, and tax filing in Australia and the UK over two years.

Additionally, the expansion supports ANNA’s commitment to assisting and advancing SMEs globally. According to ANNA’s officials, the acquisition enables the company to join Australia’s startup landscape. By entering the Australian market with GetCape, the company can provide its financial services to the region’s business community and help them expand their operations.

With the acquisition of GetCape, ANNA looks forward to providing expense management and credit cards to its UK customers. Representatives from GetCape underscored that partnering with ANNA allows the company to advance its capabilities, as it integrates its software IP with the latter’s platform. This enables the two companies to develop an improved and convenient business-to-business (B2B) payment solution. Also, this is set to be offered through a ChatGPT-style AI assistant that equips business owners with the ability to extend their capabilities, removing the need for an additional workforce.

GetCape brings into this collaboration a spend management platform that issues corporate cards, helping companies enhance their cash flow. The company provides businesses with increased visibility and control over purchasing so that they can eliminate wasteful spending and reduce time on their expense management admin. More information about ANNA As an AI-enabled business account and tax app for SMEs, ANNA aims to support business owners by managing the admin so that they can focus on the growth of their operations.

Currently, the company assists more than 100,000 UK-based businesses with invoice generating, payment chasing, receipt scanning, and setting aside tax money. ANNA intends to continue to advance the use of AI, machine learning (ML), and Large Language Models (LLMs) to simplify how businesses across the UK and Australia manage their payments. .