- Business
- Spenda Limited Spenda Limited (ASX:SPX; OTC:CROTF) develops and commercializes technology assets that enable the modernization of business information technology systems through conversion, migration, and management of server-based legacy data and systems to the cloud; it provides tailored business-to-business software-as-a-service applications, payment processing solutions, and lending services to streamline transactional efficiency across supply chains, franchise networks, buying groups, B2B marketplaces, suppliers, wholesalers, retailers, and service providers. Core products and services encompass a comprehensive suite of integrated software solutions including accounts payable and receivable management, purchasing automation, quote management, sales order management, service management, warehouse management, automotive workshop software, eCommerce tools, and Spenda Wallet for mobile approvals; payment offerings feature pay-by-link, payment widgets, point-of-sale systems, terminal payments, merchant services for online and offline transactions, and embedded finance capabilities; lending solutions support invoice financing, supplier finance, buyer finance, and agri-finance to optimize working capital and cash flow. The company operates primarily in Australia with expansion into Asia via Spenda India, targeting small-to-medium enterprises and enterprise customers in industries such as retail, automotive, wholesale, and agriculture; it maintains approximately 1,399 active customers and partners, having processed 751.4 million in payments and 24,353 transactions. Founded in 2001 and headquartered in Perth, Australia, Spenda Limited formerly operated as Cirralto Limited until its name change in February 2022; recent developments include the 2021 acquisitions of an asset finance company and Appstablishment Software Group Ltd, the 2023 binding term sheet to acquire Limepay Pty Ltd for up to A$8 million to enhance SaaS payment services with projected A$7.2 million annual revenue, the July 2024 acquisition of April (a global embedded payments platform), a February 2025 sale of its invoice finance portfolio to Grapple for A$2 million to recapitalize the balance sheet and reduce risk, and an August 2024 partnership between its acquiree Limepay and Lessn to integrate white-labelled payments technology, boosting annualized payment volume by 40% to A$167 million.