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Highlights:
Spenda Ltd executes term loan agreement with Capricorn Society Limited
Facility structured in flexible drawdown tranches to suit capital requirements
Board changes and platform update reinforce ongoing corporate adjustments
Spenda Ltd (ASX:SPX), operating in the financial technology sector, has entered into a term loan agreement with Capricorn Society Limited. The new arrangement provides funding support structured to align with the company’s operational and commercial objectives, enhancing flexibility without issuing new equity.
Loan Facility Agreement
The facility grants access to a total funding line structured in increments. These tranches may be drawn as needed, enabling Spenda to better manage working capital. The facility is secured by a general charge over specific intellectual property assets associated with Capricorn. This structure is designed to maintain ownership integrity while introducing capital liquidity.
Spenda’s chairman acknowledged the supportive role of Capricorn, especially amid shifting economic conditions that have influenced broader capital markets. The backing from Capricorn has been described as integral in preserving non-dilutive access to funds during the company’s ongoing pathway to achieving operational balance.
Restructuring of Assets
In alignment with recent internal strategy revisions, Spenda previously concluded the transfer of its invoice finance loan book. The buyer, Grapple Invoice Finance Fund Pty Ltd, assumed the asset for a reported initial amount. The transaction forms part of a larger initiative to restructure the balance sheet and release tied-up capital.
According to the company’s managing director, this step enables the business to unlock value from forward cash flows, while also transitioning toward a platform-based model. Spenda’s proprietary software has been developed to manage financing flows, reconcile payments, and implement credit controls. As a result, the company has positioned itself to onboard third-party financing products through cooperative arrangements that allow shared revenue participation.
This realignment reduces exposure linked to being the primary provider of financial products, while still leveraging software capabilities to facilitate external financial services.
Board Update
In conjunction with financial developments, Spenda has announced the resignation of non-executive director Andrew Kearnan from its board. The change aligns with ongoing shifts in corporate governance and broader company restructuring efforts.
Investor Communication Enhancement
To support engagement and transparency, Spenda has launched an interactive Investor Hub. The hub serves as a digital touchpoint for stakeholders, providing regular updates and facilitating direct communication with the leadership team. The interface also improves access to the company’s operational and corporate information.
The Investor Hub is open to shareholders and interested users via account creation and a streamlined registration process. This rollout is part of the company’s ongoing emphasis on communication and visibility as it navigates financial and operational changes.
Position within Broader Sector
As part of the ASX 200, Technology Stocks ecosystem, Spenda Ltd (ASX:SPX) continues to navigate sector dynamics that include digital transformation, payment digitisation, and platform-based service delivery. Its recent financial and strategic activities place it within an evolving landscape of fintech providers seeking sustainable models through software integration and third-party collaboration.
