Australian fintech Archa has appointed Paul Askew as a non-executive director following the completion of A$61 million in total funding. Askew will support board oversight of risk and strategy as the company expands its working capital offering. The appointment reflects Archa's effort to strengthen governance during a period of rapid growth.
Board Appointment and Governance Focus
Archa said the appointment comes as it strengthens its governance framework following sustained growth. Askew previously held executive roles at GE Capital and Coles and served on the board of Australian Payments Plus. His experience in financial services, payments, and corporate governance is expected to guide the company's next stage of development.
Oversight of Risk and Strategy
The appointment is intended to reinforce Archa's governance as it prepares for future expansion. The new director will focus specifically on board oversight of risk and strategy while Archa scales its operations. Additional board-level oversight is considered essential for the company's maturity, and Askew's background in risk management, data, and strategy aligns closely with these priorities.
Funding and Working Capital Support
Archa recently raised A$11 million in venture capital and secured a new A$50 million debt facility, bringing total funding to A$61 million. The capital will increase the fintech's capacity to provide working capital to businesses without requiring personal guarantees. The debt facility supports working capital extension while the venture funding backs broader growth plans.
Growth Metrics and Customer Base
Founded in 2021, Archa reported that annual recurring revenue grew 184% over the past 12 months. More than 2,500 businesses now manage A$200 million in annual spend through its platform. Customers include the Sydney Roosters and construction company Higgins, and the platform saves more than 60 hours of staff time each month.
Product Offering and Market Context
Archa provides company cards and expense management tools designed to replace manual expense claims and automate reconciliation. The platform combines working capital, corporate cards, and expense management in a single offering for business customers. Spend management and business credit providers have attracted investor interest as companies seek alternatives to traditional bank lending and manual back-office processes.
Executive Perspectives
Chief Executive Officer Oliver Kidd said the company's growth and financial position had created a need for additional board oversight as it prepares for its next stage of development. He said Archa has reached financial security and significant growth, reflecting the strength of its platform and customer trust. Kidd added that Askew's background in risk and strategy is exactly what the company needs for this next phase.
Askew's Outlook
Askew said he would focus on supporting the board's oversight of risk and strategy as Archa expands its operations. He described the company as having built something genuinely differentiated in the business payment card and spend management space. He added that he looked forward to supporting Oliver and the team as they scale and mature the business.
Archa's appointment of Paul Askew and its recent funding milestone signal a deliberate push toward stronger governance and expanded working capital support for businesses. The company's growth metrics and customer base indicate increasing demand for its integrated cards and expense management platform. As Archa moves into its next phase, the added board-level expertise is intended to support sustainable expansion and risk management.