Ola Polczynski 20 December - 3 min read
With COVID-19 continuing to impact our personal and professional lives, for businesses, 2021 was another opportunistic year which meant that in order to stay ahead of the curve, businesses needed to remain agile and adapt quickly to changing consumer behaviours and payment trends.
Here at Spenda, it allowed our team to really lay the foundations for what we expect to be an amazing 2022. And so, as we start to head into the festive season and prepare for the New Year, let’s once again take a trip down memory lane and look back at the past 12 months.
Invest in the right systems
While we started 2021 as predominantly a Software as a Service (SaaS) business with B2B payment capabilities, across the last 12 months we’ve significantly evolved into a B2B fintech player. We’re now delivering a stream of B2B payment and on-demand finance solutions as we continue on our quest to help businesses work smarter, get paid quicker, improve their cash flow and grow faster.
Following on from the signing of the Business Payment Solutions Provider (BPSP) and Business Payment Aggregator (BPA) agreements in December 2020, our team began the development and implementation project that by May, saw significant upgrades of Spenda’s robust payments suite which included a smarter onboarding process, a better user experience, along with more payment options they enable suppliers to get paid faster.
To bolster our product offering and scale at a faster rate, in May, we acquired a Sydney-based Fintech, Invigo, which allowed Spenda to offer customers a variety of on-demand B2B business finance solutions, such as Buy Now, Pay Later. Our business finance solutions and capabilities were also the foundation on which the partnerships across the second half of the year were formed, with the ability to offer our key partners, including Whola, Fresh Supply Co, James Tyler and eBev, lending services for their business customers, both domestically and abroad.
This acquisition meant that we’re able to support businesses throughout the entire sales process, starting off with software applications that help streamline operations and processes, during that transaction with smarter payment systems and after the sale is completed with on-demand lending solutions.
Our goal in the New Year is to build on the growth and ground work we have put in place across 2021 and deliver more value to our growing customer base, which across 2021, saw an increase of nearly 80%.
A few new faces at Spenda
None of the achievements would have been possible without our dedicated team, who work around the clock to create innovative solutions that continue to better support our customers’ needs. As we continue to expand our capabilities, we also welcomed new colleagues from Invigo Pty Ltd and Greenshoots who have been instrumental allowing us to deliver more value, and at a quicker speed, to our customers. Since 2020, our team has expanded by over 140%.
We believe that our success depends on the bright ideas and talent that stems from a truly diverse team. That creativity and innovation comes from a broad range of perspectives and experiences, and our commitment to creating an inclusive workplace has enabled us to build a solid team, develop new ideas and create a high performance, yet fun culture. We are also proud to say that 30% of our team is made up of females, and 40% of the senior management team is made up of women. And as we continue to expand the team, our focus remains on promoting a culture that encourages growth and creativity, and embraces cultural and gender diversity.
So with the year quickly coming to an end, we are ready and excited to kickstart the New Year with a bang where we can continue to bring innovative fintech solutions to the market and deliver more value to our customers and partners. We’re ready for you 2022!
If you’d like to be a part of the Spenda story, head on over to our Careers Page and get in touch with us.
Strong cash flow is critical for any business. Without it, businesses will have difficulty meeting their regular expenses, let alone have the capital to make larger investments in growth.
With measures such as the Federal
Government’s JobKeeper Payment
Scheme ending on 28 March 2021,
a slight cooling in the country’s
economy wouldn’t have been a
surprise. However, that hasn’t been
Services-based businesses require many systems to run smoothly. From bookings and project management, to operations and payments systems, everything can take a lot of time to organise and manage, so it’s critical you have systems and processes that enable you to deliver a smooth customer experience, and get paid on time.
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