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A Technology Services Agreement and Binding Funding Agreement between Spenda Ltd (ASX:SPX) and APG Pay Pty Ltd will see the companies develop and commercialise a next-generation, closed-loop corporate credit platform. APG has committed A$50 million to kick off the partnership, with capital allocations set to scale in line with business growth. Spenda expects to earn A$1.7 million in annual recurring gross profit, with upside from transaction and service fees.

Read the full article on Proactive Investors

Spenda eyes A$1.7M in annual revenue from new credit platform rollout