" class="no-js "lang="en-US"> Cape Awarded MVP Grant to Kickstart New Wave of Open Banking powered Business Finance Tools to support Australian SME’s - Fintech Finance
Wednesday, May 29, 2024

Cape Awarded MVP Grant to Kickstart New Wave of Open Banking powered Business Finance Tools to support Australian SME’s

Cape, the Corporate Card helping small to medium business (SMBs) take control of their cash-flow, has been awarded a prestigious Minimum Viable Product (MVP) grant by the NSW Government.

The Cape team is improving the operating efficiency and long-term success of growing businesses by automating accounting and helping lower their bills, enabling business owners to get their spend management under control. Cape’s solution utilises Open Banking to help businesses unlock capital to invest in growth, whilst optimising cash flow to save on unnecessary expenditure.

The grant was awarded thanks to Cape’s proposition to build a cash management platform to remove vendor, expense and spend management roadblocks, saving thousands of dollars in the process for business owners.

Cape’s founders said that the grant would go towards securing early-stage growth opportunities for the company, particularly in product development and sales initiatives, as the company seeks to transition out of the pre-revenue stage.

Ryan Edwards-Pritchard, CEO of Cape, commented: “We’re excited to have the support of the NSW government in our mission to help business owners stay on top of their cash and keep their companies healthy. The grant shows how invested the government is in developing the local economy and continuing New South Wales reputation as an active fintech hub.”

Stuart Ayers, Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres commented: “It is fantastic to see promising startups such as Cape tap into the NSW Government’s Minimum Viable Product (MVP) grant. The MVP grant is designed to support promising startups like Cape progress from product development to first sales.

Cape is currently gearing up for their launch and will initially go to market with a Rewards platform, before delivering Machine Learning capabilities to streamline receipt and business expense management across supplies, third party services, SAAS subscriptions & payments.

People In This Post

Companies In This Post

  1. GoHenry Launches Manifesto Urging Next Government To Improve Financial Education In Schools Read more
  2. Banca Sella Enables Payments on the Discover® Global Network Read more
  3. APOLLO Insurance Raises CAD $18.5 Million to Launch Finshore Buy-Now-Pay-Later Subsidiary Read more
  4. Intellect Launches Canada-Ready eMACH.ai Cloud for Banks and Credit Unions, Enhancing Payments, Digital Experiences, Core Banking, and Contextual AI Read more
  5. XTransfer and TerraPay Partner to Empower Global SMEs with Enhanced Cross-Border Payment Solutions Read more