Anna, a London-based mobile business current account and financial admin assistant for SMEs and freelancers, is planning to move into Europe after selling a majority stake to multinational banking group ABHH.
ABHH is investing over $21 million in Anna and acquiring a majority stake at an implied valuation of $110 million.
Anna will continue to operate as a standalone brand, maintaining operational independence, its headquarters in London and customer service team in Cardiff.
Launched in September 2018, Anna provides small businesses with a current account, debit card and digital assistant that helps with financial admin like sending and chasing invoices.
The firm now plans to expand across Europe and widen its offering, adding lending products, that will be integrated with other members of the ABHH stable, such as Amsterdam Trade Bank.