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Spenda paves pathway to growth by signing more payments solution deals

Last updated: 13:59 26 Feb 2024 AEDT, First published: 08:22 01 Nov 2023 AEDT

Snapshot

  • Spenda notches up 102% revenue growth as key strategic partnerships gear up
  • Spenda signs 10-year service agreement with Capricorn
Spenda Ltd

About the company

Spenda Ltd (ASX:SPX) is an integrated business platform that enables businesses across the supply chain to sell better and get paid faster.  

Spenda is both a software solutions provider and a payment processor, delivering the essential infrastructure to streamline processes before, during and after the payment event. Their software enables the smooth flow of funds throughout a supply chain or network of buyers and sellers, from producer to end-consumer. 

Spenda displaces multiple, disparate systems in favour of one collaborative solution that improves transactional efficiency between businesses.

How it is doing

26 Feb 2024

Driven by an expansion of revenue from key strategic partnerships, Spenda Ltd (ASX:SPX, OTC:CROTF) has recorded total revenue of A$2.7 million in the first half of FY24, up 102% on the previous corresponding period (pcp).

Revenue from lending was up 30% on the pcp to $1.4 million and other revenue, which included payments and implementation fees, was up 52% on the pcp.

Spenda, an integrated business platform that enables businesses across the supply chain to sell better and get paid faster, also recorded gross profit of $1.6 million, up 138% on the pcp, reflecting higher gross margin projects.

The company said it had achieved this growth due to a significant expansion of revenue from its key strategic customers, including milestones achieved with Capricorn.

29 Jan 2024

Electronic payment solutions company Spenda Ltd (ASX:SPX, OTC:CROTF) has raised A$7.175 million in a private placement with a new cornerstone investment from Capricorn Society Ltd.

Capricorn’s cornerstone investment — now standing at 13.75% of Spenda’s issued capital — follows extensive due diligence by the member-based organisation and reflects its confidence in Spenda’s unique payments software and the company’s earnings potential over time.

27 Dec 2023

Electronic payment solutions company Spenda Ltd (ASX:SPX, OTC:CROTF) has entered into a binding memorandum of understanding (MoU) with eBev Pty Ltd to provide integrated payments solutions across the eBev marketplace. 

eBev is a software provider with a platform that enables licensed premises to order alcoholic beverages from eBev’s approved catalogue. Its buyers consist of more than 2,500 licensed premises who regularly purchase through its platform.

What management says

27 Dec 2023

Spenda Ltd (ASX:SPX, OTC:CROTF) CEO Adrian Floate sits down with Jonathan Jackson in the Proactive studio to discuss the new 10-year service agreement with Capricorn. The company has been working on this Digital Services Delivery initiative with Capricorn over the last six months and Adrian looks at how the agreement came about and what comes next. The contract will generate $2 million in revenue in 2024 and has significant revenue potential over the long term. Spenda has also announced a new partnership with eBev to offer integrated payment solutions across the hospitality supply chain. Floate introduces eBev and how Spenda’s solutions will improve the flow of payments across their network of buyers and sellers. Finally, he talks us through the different revenue streams that you Spenda will generate through these agreements and coming milestones and timelines.

Spenda signs 10-year service agreement with Capricorn

Spenda Ltd (ASX:SPX, OTC:CROTF) CEO Adrian Floate sits down with Jonathan Jackson in the Proactive studio to discuss the new 10-year service agreement with Capricorn. The company has been working on this Digital Services Delivery initiative with Capricorn over the last six months and Adrian...

on 27/12/23