Cirralto Announces A $ 1.1 Million Update to the Spenda System, Introduced to Support Continued Customer Growth

Following the commercial launch of the Expense payment suite in May of this year, this week Cirralto published a “major” upgrade to the Spenda system.

In addition to the increased functionality, this update made the necessary changes and assurance of their transaction scaling capabilities “to support our growing number of customers.”

The announcement also mentioned that this version of the software “involved the strategic investment of $ 1.1 million to unlock multiple competitive advantages which the company said will have a payback period in the current fiscal year and will provide the basis for accelerated acquisition of national customers and international expansion “.

The main improvements / improvements in this version are as follows:

  • Further improvements to key competitive advantages in customer acquisition technologies, credit profile, underwriting agreements and enrichment of margins;
  • Online integration of Invigo B2B Buy Now, Pay Later (BNPL) services;
  • T + 1 automation of merchant financing for BPSP & BPA (Enterprise Payment Solution Provider Agreement) and BPA (Enterprise Payment Aggregator Agreement) payments;
  • Extended capabilities for “collaborative commerce and data sharing;
  • Scaling up capacity changes and assurance “to support increased payment transaction volumes”, and
  • API services to “support expanding engagement with technology and market partners”.

The version further builds on the competitive advantages employed by Cirralto, which can be classified as:

Customer purchase

The company’s integrated solution enables a stable customer acquisition strategy “at little or no cost, as customers can seamlessly invite their customers into the Spenda network, with all parties gaining a business benefit from the process.” This is “enriched as clients become borrowers through our built-in loan triggers, resulting in an increase in average income generated per user,” the ad notes.

Credit profile

Cirralto offers “convenience credit, or point-of-business debt, which is aligned with standard business discounts and as such borrowers are of high quality and not in crisis.” This, together with short cycle loans (less than 90 days) for “an ever-expanding sample of verticals that use buyer’s and seller’s ledgers, mitigate loan risks and improve portfolio balance. of loans and payments from Cirrlato ”.

Credit subscription

General ledger integration “provides access to historical ‘real economy’ activity data in a format that can be used to make better credit decisions than traditional credit processes (e.g. point-of-sale data). , inventory, purchase orders, buyer-supplier transaction history and / or bank cash flow) do not have access to such a lean data collection methodology. This information “helps improve credit analysis, score card design / iteration, and fraud prevention,” the update notes.

Using their accounts payable and accounts receivable software for payments “creates a behavioral history that enables credit decisions and a gradual scientific extension of credit limits without the risk of a ‘leap of faith’,” explained the ‘announcement.


Following the acquisition of the Sydney-based Fintech company, Invigo Pty Ltd., improving the service “allows better control of the general ledger, reducing losses and bad debts, allowing Cirralto to access a lower cost of financing from wholesale lenders, allowing the business to offer more competitive rates to its customers “.

The release of these new Spenda upgrades are ‘core functionality to pay for services later in B2B commerce with binding payment agreements at the end of the loan period, compared to standard business terms like 30 days. from the invoice and 30 days from the end of the month (EOM), ”notes the announcement.

The technology is unique among other B2B subsequent payment services, “whether it is traditional business terms or emerging platforms, due to the ability of data transfer and seamless integration between the two parties.” .

The release of the post-payment functionality within the Spenda suite “enables the company to continue to research markets, suppliers, manufacturers and franchise groups and deliver risk-free trading to their business customers.” , added the announcement.

Adrien Flotter, CEO of Cirralto and Managing Director of Spenda, said:

“The team worked incredibly hard to get this version out on time. We have used this period to streamline the way we develop new products and our leadership has weathered this period and thought outside the box to solve problems.

Float added:

“These services are a ‘milestone’ for the company, we have made great strides with this release. This will allow us to manage more clients, more efficiently as we pursue our growth plans. Integrating Invigo’s products into the Spenda suite and supporting Pay Now, Pay Later as an on-demand service within the Spenda stack will allow customers to buy what they need, when they need it. need it, with less capital constraints and allowing suppliers to get paid faster and convert accounts receivable to cash in near real time.

Olly Speed, CTO of Spenda, noted:

“The successful launch of Spenda Payment Services V2 is an important technological achievement of the Spenda team. These services were designed to scale automatically to support very high peak and sustained transaction loads on the Microsoft Azure cloud infrastructure platform.

Speed ​​also mentioned:

“In an ongoing collaboration between architects and internal and external designers of Microsoft infrastructure, application and security solutions, the team has built an exceptional set of high-performance and secure cloud-native microservices using the Azure serverless technology.

He added:

“This means that our software processes can scale automatically under a high customer transaction load while doing so cost-effectively. This cost-effective Azure serverless technology is at the heart of our technology strategy to ensure a commercially efficient processing cost per transaction while supporting the significant growth in customer demand for our Pay Now and Pay Later products. The team is rightly very proud of this strategic delivery milestone, bringing these foundational and visionary B2B software payment services to market across Spenda’s digital ecosystem. “

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