Sydney-based fintech GetCape, which specialises in SME cash management, has been acquired by UK fintech Anna.Money.

Anna.Money, a cashflow management and tax assistance app, said the acquisition – the company’s first – would give it “the unique capability to blend [GetCape’s] corporate card and cash flow management” solution with its own AI-backed platform, providing its pioneering ChatGPT-style offering to Australia’s small business community.

The takeover marks not only Anna.Money’s first acquisition but also its first foray into an international market. Leveraging the newly acquired GetCape suite, with the company founded just three years ago, also gives Anna’s UK customers access to the fintech’s expense management and credit card offerings.

Following the takeover, Anna.Money said it will launch a smart business current account and debit card, followed by several new products, including invoicing, bookkeeping, tax calculations and tax filings in Australia and the UK over the next two years.

The fintech said its ambition is to create a new SaaS category that would directly challenge competitors, including the ‘big four’ banks, offering expense management tools and corporate cards that would “save small businesses valuable time and money”.

Eduard Panteleev, co-chief executive of Anna.Money, said the acquisition marks a “monumental step” in its journey.

“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 chief executive of GetCape, will remain within the business as chief executive of Anna.Money’s new Australia arm.

“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,” Edwards-Pritchard said.

“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.”

Anna-Money boasts more than 100,000 UK business clients, offering invoice generation, payments prompts, receipt scanning, and cash and tax management services.