Spenda: Looking back at 2024 

Welcome to Spenda’s 2024 year-in-review. Once again, we’ve made significant strides across the business. Our products have been enhanced to better serve our customers. We’ve maintained our strong commitment to data, payment, and system security, implementing best-practice upgrades to ensure the safety of our client’s data. Our team has also expanded, bringing in new talent and fostering a continued culture of innovation and teamwork. These achievements position Spenda well for continued success and growth into the future.

Let’s take a trip down memory lane and look back on the impactful moments that shaped Spenda in 2024.

Building success through collaboration, innovation, and talent 

January

As part of our partnership agreement with Capricorn Society, we received a $7.175m investment to help accelerate the development of the SwiftStatement solution and Digital Service Delivery (DSD) initiative.

March

We successfully launched our improved self-onboarding Accounts Payable solution with Spenda Wallet. The self-guided setup lets users onboard quickly and efficiently, saving time and paving the way for digital acquisition growth. We also released the Spenda Wallet payment authorisation app. Together, these products speed up invoice payments and protect businesses against accounts payable fraud.

May

We expanded our Board team with the appointment of Andrew Kearnan in the role of Non-Executive Director to help shape Spenda’s strategy during this period of strong growth.

August

We completed the full acquisition of Limepay (trading as April), a B2B SaaS company providing embedded finance services. This acquisition expanded our team resources and capabilities in payments, broadened our product suite and enables us to fast-track project delivery. It also allowed us to enter new verticals with immediate deployment and revenue opportunities.

Lessn, an accounts payables solution provider, entered a strategic partnership with Spenda to scale their payment capabilities and accelerate revenue growth. By integrating our white-labelled payment technology into their platform, Lessn aims to strengthen its AP business, enhance functionality, and expand into new markets.

We launched a retail service Standard Operating Environment (SOE) solution at the Carpet Court annual national conference. This will enable Carpet Court stores to manage their quote-to-pay workflows more effectively and efficiently. The rollout across the store network has begun and is expected to scale in 2025.

September

We successfully piloted our SwiftStatement solution – an automated invoice reconciliation tool. The pilot, with a select group of Capricorn Members, allows them to reconcile their Capricorn transactions in minutes. This product is a huge time saver for Capricorn Members.

November

We commercially launched SwiftStatement, offering the full solution to the Western Australian Member base on 4 November, and completed the country-wide release on 25 November.

We made great strides in the commercialisation of the DSD initiative with Capricorn Society by processing the platform’s first eCommerce Partner transactions. This initiative is expected to roll out in 2025.

Looking ahead to 2025

We feel excited about the future. We’ve made great improvements to the business and our capabilities across 2024, and grown our team with talented people which gives us a strong base for continued success.

Thank you for being with us, and we look forward to what next year will bring.

See you in 2025!