Dear members, investors, and the wider community,
As of today, 29 June 2023, I am delighted to announce that Parpera has partnered with Wise and is once again available to make business easy for Australian businesses owners!
We’re excited to be back to better serving Australian Sole Traders and Companies 12-months after needing to pause operations and reintegrate our solution with a new partner.
As the Founder and CEO of Parpera, for over 3 years, who employs a small passionate and talented team, I myself am an Australian small business owner and personally experience the everyday pain and personal sacrifice required to push through the challenges and unlock the opportunities that enable us to help others locally and afar through doing what we love.
We always hear that small business owners and their businesses are ‘the backbone of the Australian economy’. In 2022, ~98% (2.5m) of the 2.6m Australian businesses were small businesses. We collectively contributed $506 billion of value (32%) to Australia’s Gross Domestic Product (GDP) and employed 42% of our working population.
Non-employing businesses grew by 10% to 1.6m representing the fastest growing business segment and demonstrating that Australians are increasingly turning to entrepreneurship - business has very much become a personal pursuit.
However, 40% (2 of every 5) of businesses fail within 5 years, with financial mismanagement as a leading cause, significantly impacting our economic progress - not to mention the wellbeing of the business owners and the people who come to rely upon them.
Despite our critical role in supporting the social and economic wellbeing of the Australian people and communities we serve, we remain underserved by the traditional financial institutions and business management and accounting platforms.
Small businesses are seen to be “too small to make the economics work” for the Big Banks who prioritise lending to businesses and desktop-first accounting platforms that were built for Accountants and Finance Managers - not the everyday small business owner.
However, we believe that this simply isn’t true.
We believe that the problem isn’t the size of our businesses but rather the legacy business models, technologies, and ways of working that exist in theirs.
We believe that Austalians deserve access to a modern solution that backs them as a business owner and solves the needs of a modern business.
We believe that modern businesses need digital to simplify the complex, do more with less.
We believe that the solution should be mobile-first but human centered and community led.
We believe that it should replace the patchwork of tools that we’ve been left to do business and enable us to pursue opportunities beyond physical boundaries.
We created Parpera based on our beliefs to provide a fairer and more transparent solution to make it easier to do business, anywhere at anytime, and in doing so, empower us to create greater value through focusing more on doing what we love.
When we paused our operations last year, we reflected and challenged these beliefs.
Are our beliefs worth pursuing? Should our solution exist in Australia?
We still strongly believe so and based on the 550 businesses that previously used us and thousands of businesses that signed up to our waitlist since, we’re not the only ones!
So in true Aussie small business spirit, we didn’t give up!
We’re proud to partner with Wise Platform, as a world-first, to use its leading global infrastructure to enable our Australian relaunch and deliver on our purpose.
Partnering with Wise to make business easy
Initially, Wise Platform will enable us to offer Australian Sole Traders and Small Business Owners access to a Business Account, Business Debit Mastercard®, and payments - along with our invoicing, cash flow and tax management solutions - all in the Parpera App.
And later, we’ll extend our partnership to multi-currency wallets, and cross-border payments, unlocking greater value for businesses on our platform by enabling you to do business globally with ease.
Additionally, Wise serves as a strong, reliable, and trusted partner to enable our solution in Australia and future expansion to new markets.
We've improved the way we make business easy and deliver you more value.
Below you’ll find a summary table of what we used to have (“Parpera 1.0”), what we’re relaunching with (“Parpera 2.0”), and why it’s better!
A friendly note to our “competitors”, we even make business easier for you by giving you all the information you need to update your blogs and comparison pages - all in one table 😉
Parpera is now available to all eligible Australian Sole Traders and Small Business Owners on the Apple App and Google Play Stores - just in time for the new financial year.
Get the best of Parpera and Wise and make business easy.
Personally, I want to offer my sincere thanks to our team, members, investors, and the wider community, who have continued to support us along our journey.
We started Parpera to transform the way people interact with financial services and the impact they have on the way they live their lives.
We know we’ve got a long way to go but we’re proud to be able to continue backing you to focus more on what you love and to deliver on our purpose to make business easy.
Never give up.
Founder & CEO