Tyro Payments

About

Tyro Payments builds point-of-sale debit and credit systems for Australian businesses, operates an APRA-regulated banking platform, integrates with business software, and provides cash-flow loans and merchant services.

Mission

Tyro Payments, founded in 2003, builds point-of-sale debit and credit card payments systems for Australian businesses. It serves about 14,000 Australian businesses and processes over AUD 8 billion in transactions annually. Tyro became the first Australian tech company to receive a banking license from the Australian Prudential Regulatory Authority and is positioning itself to compete with the country's big four retail banks. The company offers integrations with different software systems and provides cash-flow-based loans aimed at small businesses. Tyro reported gross revenue of $72.4 million in 2015, a 38% increase and a five-year compound annual growth rate of 38%. Part of the new funding will be used to grow engineering headcount from 150 to 450 to support its banking and product expansion.

Quick Facts