Assessment
Spenda handles accounts payable, invoicing, and payments for Australian SMEs and franchise networks that want bills paid and jobs billed in one system. Products include Spenda Pay (accounts payable, payments, and rewards), Spenda Retail (quotes, jobs, invoicing, and payments for franchise-style networks), and payment infrastructure for marketplaces and software partners.
For the year ended 30 June 2026, Spenda reported revenue of about A$8.8 million (up roughly 10%), and a wider statutory loss of about A$24 million, including an asset impairment. Its quarterly updates through FY26 described cost cuts, record payment volumes in some quarters, a simplification of the product range into three parts, and the sale of its Spenda Ledger technology to APG Pay, which brought in cash and cut costs. The share price has been under heavy pressure, and the company raised capital during the year through an entitlement offer to existing shareholders and other raisings.
Spenda fits Australian SMEs and franchise networks that want accounts payable and receivable (AP/AR) software tied to payments, and software partners that want to build payments into their products. It is a weaker fit for a buyer whose main need is a full business bank account with cards and multi-currency treasury, or for a buyer that wants a vendor with a long record of financial stability.
Rating by criterion
Each of the eight criteria below is scored out of 100.
Sector criteria
Spenda sells payment processing, supplier payments, and ledger-style payment flows. It does not offer a standard business bank account. Company figures in FY26 quarterly reports put payment volumes in the hundreds of millions of dollars per quarter.
Spenda’s homepage emphasises rewards for paying suppliers through Spenda Pay and says little about employee card programmes. Card issuing gets far less attention than AP automation and network payments.
Spenda Retail handles the steps from quote to job to invoice, and Spenda Pay automates paying suppliers and reconciling payments. The aim is fewer manual entries and fewer duplicate records between businesses that trade with each other. Depth depends on how cleanly Spenda replaces the buyer’s current job-management or AP tools.
Spenda markets quick integration with the software a business uses today and consistent data across supply-chain systems. In earlier years it made technology deals, including for the payments company Limepay, and in FY26 it narrowed its focus to Pay, Retail, and payment infrastructure for partners.
Vendor criteria
In FY26 Spenda focused on cutting costs, simplifying its products, rolling out Retail to networks such as the flooring franchise Carpet Court, and restructuring its relationship with APG after the Ledger sale. Whether the roadmap holds up depends on whether a smaller budget can still pay for product work after the impairment and capital raisings. Its AP and payments workflows have real depth, but its range is narrower than a full digital bank’s.
Spenda sells directly to SMEs and through broker referrals, accountants, and network partnerships. Onboarding time varies by product. It publishes less self-serve detail than consumer banking apps, and anything beyond a simple Retail seat starts with the sales team.
As of 5 Oct 2026, spenda.co does not publish a self-serve rate card. Software subscriptions and payment fees are quoted by sales.
Contracts differ for network rollouts, marketplace integrations, and single-business Pay subscriptions. Spenda does not publish minimum terms, its rights to change payment pricing, data portability terms, or what happens to Pay rewards balances when a contract ends. After the leadership and partner changes in FY26, clauses on succession and assignment matter more than usual.
Against its peers
These are the other companies in business banking and treasury, with their ratings.
Fact file
| Exchange | ASX: SPX |
|---|---|
| FY26 revenue | About A$8.78-A$8.8 million |
| FY26 statutory loss | About A$24 million (includes impairment per results coverage) |
| Products | Spenda Pay; Spenda Retail; partner/platform payment infrastructure |
| Geography | Australia (prior APG travel payments also touched NZ/HK/Singapore) |
| Leadership (as of Oct 2026) | Corrie Hassan, CEO; Niv Dagan, non-executive chair from July 2026 |
Competitive landscape
Peers a buyer would compare.
Spenda: 62
- Spenda62
- MelioNot reviewed
- PlootoNot reviewed
- BILL (Bill.com)Not reviewed
- Other AU AP / payments workflow toolsNot reviewed
Comparisons
Key leadership
As of early October 2026, Corrie Hassan is listed as CEO and Niv Dagan as non-executive chairman (from 7 July 2026), with non-executive directors including Peter Richards and Bill Pavlovski. FY26 brought substantial board change, including the July departure of executive chairman Karim Razak.
Hassan is known as an Australian small-business lending and credit executive. She co-founded Invigo, a finance business later acquired by the Spenda group (formerly Cirralto), and founded 180 Group. She steered Spenda after the September 2025 departure of previous managing director Adrian Floate, first as interim CEO and then as permanent CEO from January 2026. Her background is in credit, risk, and operations.
Dagan became non-executive chairman on 7 July 2026, the same day Karim Razak resigned as executive chairman, and leads the board after the company’s recapitalisation.
Richards has been a non-executive director since December 2017 and has stayed on the board from the Cirralto years through the change to Spenda.