OSBORNE PARK: Spenda Limited (ASX: SPX), a software company specializing in payment solutions and embedded finance, announced Tuesday a strategic partnership with APG Pay Pty Ltd to develop a closed-loop corporate credit platform. The collaboration aims to streamline business-to-business (B2B) payments across multiple industries.
Under the agreement, Spenda and APG Pay, a subsidiary of Singapore-based APG Tech Pte Ltd, will jointly develop and commercialize the platform, which integrates embedded finance into Spenda’s existing infrastructure. APG Pay has committed 50 million Australian dollars ($33.5 million) to fund the initiative, with plans to scale investments alongside business growth.
The platform will initially serve the travel industry, supporting clients transitioning from AirPlus Business Credit in Australia, New Zealand, Hong Kong and Singapore. Future phases will expand to sectors such as automotive, real estate and trade services. The partnership includes a 10-year exclusivity agreement, renewable for another decade, and a revenue-sharing model for net profits.
Spenda expects the platform to generate approximately 1.7 million Australian dollars ($1.1 million) in annual recurring gross profit, based on current contracted payment volumes. Additional revenue will come from transaction fees and service charges.
“This agreement marks Spenda’s shift from direct lending to a technology-driven credit enabler,” said Managing Director Adrian Floate. “We’re excited to collaborate with APG Pay to scale our solutions across the Asia-Pacific region.”
The platform’s first phase launches July 1, with further rollouts planned through 2025.
Spenda provides integrated software and payment processing for supply chains, offering e-invoicing, digital trust tools and financing solutions.
A B2B payments provider, APG Pay focuses on secure, cross-border transactions and working capital optimization in the Asia-Pacific region.