Spenda Limited (ASX: SPX) has executed an Asset Sale Agreement with Grapple Invoice Finance Fund Pty Ltd for the sale of its invoice finance loan book. The transaction, valued at AU$2 million, includes an initial payment of AU$500,000 and a deferred consideration of AU$1.5 million, payable over 10 months with a final AU$750,000 balloon payment by March 2026, subject to portfolio performance. Additionally, the sale will return AU$2.3 million in first-loss capital, strengthening Spenda’s balance sheet with a total of AU$4.3 million in available working capital.
The move aligns with Spenda’s strategy to shift towards bundled SaaS and payment services, reducing lending risk and improving margins. The company has also entered a referral agreement with Grapple to generate revenue from new customer referrals. Despite an AU$50,000 monthly gross profit reduction, operational cost savings and growth in other product lines are expected to enhance Spenda’s overall margins.
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