Australian B2B fintech scale-up Cape has plumped for Thredd as its issuer processor, empowering Cape’s expansion across the Asia-Pacific region.
Founded in Sydney in 2020, Cape, spearheaded by Ryan Edwards-Pritchard, aims to shakeup expense management by helping businesses and corporates make smarter spending decisions and improve efficiency, resulting in time and cost savings.
Last year it raised AU$3.1million in 2022 to fund its development and onboarded its first set of early adopters
“We’re thrilled to be collaborating with Thredd who we selected as we believe they are the ideal partner to help us get to market and scale quickly,” said Edwards-Pritchard. “Their modern platform with open APIs and advanced analytics is unparalleled providing unprecedented control for rapidly growing fintechs in Asia-Pacific such as Cape.”
Cape believes Thredd’s cloud-based tech allows it to issue cards to our customers that are highly configurable with dynamic card controls, allowing for streamlined purchase flows and reducing fraud risk.
Damien Gough, head of Asia-Pacific at Thredd, also commented: “Getting access to financing for small business has always been a hurdle, and credit cards when used responsibly with seamless controls and integration to accounting software are a game changer. Now more than ever businesses and corporates of all sizes need to tightly track and manage their teams’ expenses with real time insights, controls, and limits.
“We are excited to partner Cape who are leveraging our underlying payments technology and experienced team in the region, to swiftly scale their needed products across Asia-Pacific. In partnership, we are solving real world challenges to help businesses carefully manage and optimise their cashflow with advanced digital tools.”
Thredd rebranded from Global Processing Services (GPS) in April 2023 to reflect the company’s role in weaving together the different ‘threads’ of the next-gen global payments ecosystem to fuel the growth of electronic payments.