Archa raises A$11M in equity and secures a A$50M debt facility for business credit without personal guarantees

Melbourne-based Archa has raised A$11 million in equity and secured a A$50 million debt facility, A$61 million (about US$42.7 million) in total. The equity round, at an undisclosed valuation, was backed by executives and founders from Zip, The Iconic, BetaShares and Netspace, alongside US investor The Fintech Fund and former Macquarie executives.

Founded about a decade ago by former corporate M&A lawyer Oliver Kidd, Archa started as a neobank called Archa Money and pivoted to corporate credit in 2021. It offers business credit cards and spend management, with working capital that does not require directors' personal guarantees.

The equity funds product development, including AI tools that check purchases against company spending policies in real time. The debt facility funds the credit lines Archa extends to its customers.