Spenda and Capricorn collaboration details

Spenda (ASX:SPX) has announced significant commercial milestones with Capricorn Society Limited. The collaboration enhances their Digital Services Delivery initiative and introduces the SwiftStatement product. This partnership is set to boost Spenda's recurring revenue and marks a 44% annual revenue growth, leveraging Spenda's technological capabilities.

Spenda's strategic growth and future outlook

Spenda Limited, in collaboration with Capricorn Society Limited, has achieved significant milestones with the commissioning of the Digital Services Delivery (DSD) platform and the launch of the SwiftStatement product. The DSD platform facilitates eCommerce transactions within Capricorn's network, contributing to Spenda's revenue through development fees and recurring SaaS income. The SwiftStatement is expected to generate substantial revenue by improving transaction reconciliation for Capricorn Members. Spenda's ambition is to drive annual revenue growth with a targeted adoption rate for SwiftStatement, potentially yielding around $18 million in recurring revenue. The longstanding partnership with Capricorn, including a significant investment in Spenda, underscores the strategic importance of these initiatives, which aim to enhance service offerings and drive growth through 2025 and beyond. Both companies are committed to exploring further opportunities for integrating Spenda's innovative solutions across Capricorn's trading network.

Executive insights on Spenda and Capricorn partnership

The partnership with Capricorn showcases the alignment of both companies' strengths to bring commercial innovations to market.