Scaling B2B fintech in Australia Thredd has been chosen by Cape as its issuer processor, enabling Cape to grow throughout the Asia-Pacific region.
Cape, an organization led by Ryan Edwards-Pritchard and established in Sydney in 2020, intends to revolutionize expense management by assisting corporations and enterprises in making wiser spending decisions and increasing efficiency, which saves both money and time.
In order to finance its development and onboard its first group of early adopters, it raised AU$3.1 million in 2022.
Edwards-Pritchard stated, “We’re excited to be working with Thredd, who we believe is the appropriate partner to help us get to market and scale swiftly. “Their cutting-edge platform, complete with open APIs and cutting-edge analytics, is unmatched, giving fintechs like Cape, which are expanding quickly in the Asia-Pacific region, unprecedented control.”
Thredd’s cloud-based technology, according to Cape, enables it to issue cards to our customers that are highly flexible with dynamic card controls, enabling simplified purchasing flows and lowering the risk of fraud.
The CEO of Asia-Pacific at Thredd, Damien Gough, added: “Using credit cards responsibly with seamless controls and integration to accounting software are a game changer. Getting access to funding for small businesses has always been a challenge. Businesses and corporates of all sizes now more than ever need to closely monitor and control their teams’ spending with real-time data, controls, and restrictions.
“We are thrilled to work with Cape, who is leveraging our regional team’s expertise and underlying payments technology to quickly scale their required goods across Asia-Pacific. Through collaboration, we are resolving issues from the real world to assist businesses in carefully managing and optimizing their cash flow.
In order to better reflect the company’s function in bringing together the many “threads” of the next-generation global payments ecosystem to support the expansion of electronic payments, Thredd changed its name from Global Processing Services (GPS) in April 2023.