Company Name: Archa
Announcement Date: 21/04/2022
Announcement Category: Investment
Announcement Content:
Australian fintech, Archa (www.archa.com.au), today announced it successfully closed its Pre-Series
A investment round raising $24 million in a mix of debt and equity to support growth and further
product development.
CEO and Founder of Wisr, Anthony Nantes, led the investment round, alongside other familiar tech
investor names including Alex Vynokur of Apex Capital and Betashares, Adam Jacobs, Co-Founder of
The Iconic and Hatch, and former Macquarie Capital executives John Prendiville and Link Chairman
(ASX: LNK) Michael Carapiet. The round also included a co-founder of ZIP (ASX: Z1P) and both
Founders of Netspace, Stuart Marburg and Richard Preen, completing a deep cross section of savvy
Australian technology talent. Archa also welcomed to its register a list of high-profile family offices.
Archa’s growth is reflective of a global trend in the corporate card space with US unicorn Brex
recently closing US$300 million in fresh capital at a US$12.3 billion valuation in its Series D-2 round.
Archa expects to replicate this success in the Australian market where corporate spending solutions
are few and far between.
Archa Founder and CEO, Oliver Kidd, welcomed the high calibre of investors and believes it reflects
the large and growing need for alternatives to traditional business banking products. The
announcement coincides with the company securing its first institutional debt facility with Roadnight
Capital providing Archa more ability to accelerate its customer growth. Archa was advised by Vixory
Capital on the debt transaction.
“The problems faced by businesses when it comes to banking and payments is immense – so is the
opportunity. We’re building a product designed around modern-day business processes to help save
owners time and money so they can grow more efficiently.”
“This round of funding is growth capital. It will help us scale faster, serve more businesses, and grow
our product functionality. The debt facility fortifies the economics of our business, and importantly it
provides us with the capacity to fund a substantial corporate credit card book. We’re very ambitious
about leading the future of operational finance for businesses, and this funding is crucial for us to
deliver on that,” said Mr Kidd.
Mr Nantes said the Archa team are building a product to solve a real problem for businesses
everywhere.
“We’ve watched several businesses successfully solve this problem and launch a disruptive cards
model in other markets. Having seen Oliver and the team quietly executing on their strategy for
some time now, I’ve been impressed with their approach and consistency. They’re already seeing
strong growth numbers and with this new injection of capital I’m excited to watch what the
management team can achieve, and believe they have a real chance to take this business to scale
as a true alternative to the major banks for this product suite.”
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Announcement URL: https://www.archa.com.au/blog/new-funding-and-debt-facility-announcement
About Archa:
Archa offers small businesses instant credit, without a personal guarantee, on an intuitively functional platform that integrates with their existing business practices, providing business owners with a range of sophisticated tools to help them manage their spend in a way that works for their entire team.
Ultimately, Archa is bringing to market a suite of innovative tools for businesses and consumers, that will help better manage their spend, and make the most of their money.
Go to Company Profile for: Archa
Announcement Contact: [email protected]
