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Spenda Limited ( (AU:SPX) ) has issued an update.
Spenda Limited has entered into an agreement to sell its invoice finance portfolio to Grapple for $2 million, with the transaction expected to improve its balance sheet by freeing up $4.3 million in working capital and reducing operational costs. The deal will enhance Spenda’s margins by shifting its focus to SaaS and payment services, thus removing lending and credit risk, and includes a referral agreement to generate future revenue through customer referrals to Grapple.
More about Spenda Limited
Spenda Limited is an innovative software company that provides software and electronic payment solutions aimed at enhancing supply chains and trading networks.
Average Trading Volume: 2,145,159
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$36.92M
Learn more about SPX stock on TipRanks’ Stock Analysis page.