UK-based software group ISH has acquired ProSpend, a spend management platform operating throughout Australia and New Zealand, for an undisclosed sum.
ISH currently operates as a software holding company that invests in Software-as-a-Service (SaaS) companies focusing on the B2B market. Working with start-ups across Europe, Australia, and the US, and with the backing of Strada Partners, previous success stories include applicant tracking system Homerun, recruitment platform Jobtoolz, and HR platform Staff Squared.
The deal marks ISH’s entrance into the fintech space, with the group launching a new dedicated “fintech track” that it says targets “fragmentation across invoices, expenses, cards, approvals, and policy control”.
The track will bring together products and teams to “create a more unified operating layer for finance”, ISH says.
ProSpend brings to this portfolio a specific focus on fintech and spend management. Based in Sydney and led by CEO and founder Sharon Nouh, ProSpend offers a platform for managing expenses, accounts payable, virtual cards, and budgets.
Following the acquisition, ISH says ProSpend will “continue operating under its own brand and leadership”, retaining its existing platform contracts, data residency, support channels, and teams, with no immediate changes for customers.
Future plans for the company include global expansion, with ProSpend aiming to expand its spend management platform to businesses in Europe, stating with the UK and Ireland in 2026.
Adam Reynolds, managing partner at ISH, says the group sees “a clear path to rapid growth across our core markets” with the acquisition of ProSpend. “We’ll bring go-to-market support, capital, and our operator network to help ProSpend land and expand in the UK and Europe,” Reynolds continues.
Source: https://www.fintechfutures.com/
