Power up your payments, policies and people with Cape's expense management platform.
Founded: September 2020
Founder/CEO: Ryan Edwards-Pritchard
Location: Manly, NSW, Australia
Size of Team: 28
Website: https://www.getcape.io/
Who is your ideal customer ? :Founders, C-Suite Execs, and finance leaders from mid-sized businesses.
Why would a business sign up to Cape? Business spend management is broken and full of bottlenecks. Slow moving financial and approval processes inhibit growth, and work against decentralisation of spending and expense autonomy. Without the autonomy to make purchases to perform their duties, employees are limited in their effectiveness to execute in their role and support the business. Compounding these issues, finance teams are dealing with archaic, disconnected systems which ultimately slow everything down, including growth.
Cape’s technology decentralises finance to help businesses go fast and empower employees. Cape Customers can issue corporate cards to their team, customise the way they can spend, set controls and limits, automatically sync with the general ledger, and track everything from a simple yet robust dashboard. It streamlines everything while removing the stress and tedious manual work involved for everyone.
Current Investors: Institutional investors include Scalare Partners, Mercury Capital, Aura, Investible and notable Angels from LegalVision, Atlassian and Stripe.
Recent Milestone: Launched a Beta program to early adopters last quarter.
Onboarded over 100 Australian businesses that have collectively raised $500 million in equity funding
Biggest software release to date called ‘Cape Spend’ last month - link on blog.
Recently crowned as ‘Emerging Global Fintech of the Year’ by Wealth & Finance International and awarded Silver in the Sydney Design Awards 2022 for the Identity and Branding category.
FY22 has also involved many finalist nominations, both for Cape, as Finovate’s ‘Fintech Startup of the Year’, and our Senior Leadership Team, as the 7th Annual FinTECH Award’s Female
Fintech Leader of the Year for our CFO, Tanya Ward, and as the Women in Finance Awards 2022’s Young Leader of the Year for our VP of People, Culture & Impact, Andrea McDowell.
Why the name: Companies have big visions, but the everyday heroes and heroines that put in the work to pursue them are often invisible.
Founders, finance leaders, and their teams must work hard, drink their own champagne, and overcome the legion of obstacles and adversities in their way if they want to realize their goals, from the Gig to the Big.
Cape exists to empower these people with the technology, cash flow, and spending insights they need to save more and grow more, without drowning in administrative tasks and receipts reconciliation.
Maintaining positive balance sheets, climbing the competitive ladder, and continuing to innovate your products and services - all in the face of blue-chip giants and major rivals - is hard enough as it is without having to worry about forecasting working capital, chasing down employee receipts, and fiddling with hundreds of SaaS platforms just to produce a single expense report.
With a Cape on your shoulders, these tasks and tribulations are streamlined, hours are put back on the clock, and thousands of dollars are returned to your pocket.
That’s complete expense nirvana.
Why did the business start:
Cape started with two clear goals of building something that could be very impactful, solving a big problem that applies to lots of businesses and impacts a lot of people for the better.
Which is why we’re building software that helps SMEs save time and money by simplifying and automating expense management, and empowering businesses and communities with tools to improve financial well-being, especially during times of economic uncertainty. We provide an automated finance platform that streamlines corporate cards, expense management, virtual cards, and accounting, putting businesses back in control of their cash flow.
Steered by our core values: SAVE (Simpler is smarter; Actions need ownership; Visible for all; Empathy not ego), we are deeply committed to financial inclusion and serving the community as we help businesses reach the next stage of their growth and operating plans.
We are committed to achieving the above while also positively impacting the lives and communities that we engage with. Whether it’s the culture we drive, the products we build, or the growth of our team, we are committed to ensuring that Cape leaves this world; the environment, and its people in a better place than where it started.