Cape
Cape is building APAC’s first spend management platform that issues virtual corporate cards designed to help companies improve their operating efficiency and long term success. Cape achieves this by providing businesses with full visibility and control on purchases to cut wasteful spending and the time taken on financial administration work relating to expense management.
Company mission
The interests of card issuers such as American Express and business customers are completely non-aligned. Presently, issuers hone in on pushing businesses to simply make more purchases on their cards, and incentivise them with points rewards for those purchases (which isn't differentiable, and creates major challenges as you scale as per your unit economics). Companies won't succeed by just purchasing more stuff so that they can just gain marginal points rewards. And these ultimately won’t change their long term outcomes. We believe by driving savings, not purchasing, Instead of focusing on making purchases, we believe by driving savings through Cape's platform, we'll create stronger outcomes for our customers and achieve greater long-term unit economics for Cape. Our BHAG is to help Australian businesses save $1 billion per year. Second of all, by educating our customers on the carbon footprint of their purchases and providing them with not just insights but recommendations to change their purchasing behaviour to reduce their footprint, we believe we can create big change.