Archa, an Australia-based business spend management and credit platform, has raised AUD 11 million (USD 7.7 million) in equity from family offices, venture investors, and entrepreneurs. Alongside the equity round, it has secured a new debt facility of AUD 50 million (USD 35 million), bringing the total to AUD 61 million (USD 42.7 million). The capital is aimed at a common obstacle for Australian businesses. Obtaining a corporate credit card often requires owners to offer their homes as security, accept personal liability, or pay business expenses with personal credit cards.
Debt facility expands working capital without personal guarantees
Archa has assigned a specific role to each part of the raise. The equity will fund product development and growth, while the AUD 50 million (USD 35 million) debt facility increases the company’s capacity to provide businesses with working capital without requiring personal guarantees. Founder and CEO Oliver Kidd said the deal positions Archa to move beyond spend management, with new financial products focused on access to capital, spending visibility, and rewards. He added that when businesses cannot access credit, cash flow tightens, investment stalls, suppliers wait longer for payment, and growth opportunities are lost.
The company’s origins are tied to the same problem. Kidd started Archa after finding it unexpectedly difficult to obtain a credit card for his own well-performing company. Conversations with peers in the business community showed that many others had faced the same experience, which he described as a systemic barrier. Archa also points to an operational cost beyond limited liquidity and lengthy applications. It estimates that Australian businesses spend the equivalent of more than 13,000 full-time roles processing expense claims manually, tying up around AUD 1.3 billion (USD 910 million) in productivity each year.
ARR growth and customer spend underpin the raise
The funding follows 184% growth in Archa’s annual recurring revenue (ARR) over the past 12 months. Thousands of Australian businesses use the platform, including National Rugby League club the Sydney Roosters and construction firm Higgins. Together, these customers manage more than AUD 200 million (USD 140 million) in annualised spending through Archa. The company reports that its customers have saved more than 60 hours of staff time per month by replacing manual expense claims with controlled corporate cards and automated reconciliation.
The round is the company’s largest capital raise since its earlier backing from a group of technology and finance figures, including founders and executives behind The Iconic, Hatch, BetaShares, Netspace, and Zip. Other investors include US-based venture capital firm The Fintech Fund, former Macquarie executives, and individual backers from sport and fitness. With a dedicated debt facility now in place, Archa can fund more credit directly. This is the core of its plan to give Australian businesses access to corporate cards without requiring founders to put personal assets at risk.
