As hundreds of startups and organisations pack up to move out of the Sydney Startup Hub in Sydney’s CBD by the end of the month, one successful startup has stepped in to offer an alternative for founders who’ll be working from home, but would still like a city business address.
UK fintech Anna Money has launched an AI-powered virtual office, based at its Sydney HQ in the former Cadbury Chocolate Factory in The Rocks.
It’s not a physical coworking space – the virtual office concept is more like when your accountant is the registered address for your business.
Australian CEO Ryan Edwards-Pritchard said the solution offers affordable “prime real estate” and streamlined compliance for founders looking to grow without the cost and complexity of traditional office space.
“We’re opening the door for startups and SMEs to access landmark business addresses without the heavy costs and admin headaches,” he said.
“Our AI powered virtual office is a historic first for Australian entrepreneurs. It brings real time intelligence and actionable insights straight to their fingertips, making admin effortless and freeing them to focus on growth.”
The closure of the Sydney Startup Hub by the NSW Labor government, which is forcing the tenants to move to a smaller site at Tech Central, is a personal for Edwards-Pritchard.
“When I first arrived in Australia in 2020, I literally built and ran my fintech startup Cape out of the Sydney Startup Hub coffee shop with no team, no product, just a laptop, a long black and banana bread,” he said.
“Its closure highlights how much we need new models to support early stage founders, and our virtual office is exactly the kind of creative and practical solution that is needed now.”
The Anna Money boss said the virtual office service provides a legally registered business address at 212 Cumberland Street in The Rocks, keeping founders’ personal home addresses off the ASIC register, while boosting their professional image. Behind the scenes, Anna’s AI scans and filters all incoming mail, extracting key details such as invoices and compliance deadlines, summarises the content and sends instant alerts via the ANNA app and email to founders.
The virtual office is fully integrated with Anna’s broader platform, which includes digital banking, automated bookkeeping, tax support and ASIC filings.
Edwards-Pritchard said that to support startups impacted by the Sydney Startup Hub closure, Anna Money is offering 12 months of the virtual office service free to the first 100 founders and companies to apply.
Daily startup news and insights, delivered to your inbox.