Capricorn were forced to invest in Spenda as they need an online transaction solution to prevent their members from dealing directly with their suppliers. This is a desperate attempt to shore up a business model which is seriously under threat as many of their suppliers already offer digital transactional solutions. Capricorn have historically struggled to introduce new products to their members and for Spenda to claim that they expect 50% uptake in 12 months is just laughable. Capricorn’s members are mostly small auto workshops who are unlikely/unwilling to fork out another $99/month on a product which will not improve or enhance their business profitability in an environment where profits are being squeezed in many areas.
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