The appointment further bolsters the team's SME Banking and Alternative Finance experience with deep cloud accounting expertise to support the strategic direction of Cape’s product offering.

The neobank will be launching their Corporate Card with continuous accounting capabilities to help support finance managers, bookkeepers, and accountants carry out real time activities. This will allow their customers to balance out the peaks and troughs in workloads caused by needing to manage cash flow positions and business expenses on a day-to-day basis.

New advisory board member Luis Sanchez is a recognised commercial leader in the Cloud Accounting industry and brings a wealth of experience from a range of innovative fintech startups including Dext, where he was Managing Director for Asia Pacific (including Australia) as well as Intuit QuickBooks, where he was Marketing Director for Australia. More recently Luis joined Xero as their General Manager for its Global Partner Program.‍

Commenting on his appointment, Luis Sanche, GM at Xero and Advisory Board member to Cape said: ‍

“With the pandemic causing a shift in corporate budgets to cloud and online media spend, Cape is well positioned to empower finance teams and their accountants in their quest to utilise next generation technology for corporate spending.

I’m delighted to support the team as they move towards launching & hope that my cloud accounting industry experience will provide the guidance Cape needs and help them to capitalise on the massive market opportunity for their solution.”

‍Ryan Edwards-Pritchard, CEO of Cape continued: ‍

“2021 has already been one of the most difficult years in existence for many businesses. Keeping track of all employees' corporate cards and spend has become a constant challenge as we’ve all moved towards remote and hybrid working cultures. Unfortunately this has led to many companies often having little to no visibility or control on their cash flow position. Cape is building a more effective way to orchestrate corporate spending.

Luis’s appointment is an exciting step towards supporting Cape on our mission to help finance teams, accountants, and bookkeepers reduce purchasing processes that have previously taken days, to only minutes, without compromising on control or losing sight of any spend.”‍