# Tyro Payments

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tyro-payments

- Industry: Financial Services
- Headquarters: Sydney, Australia
- Website: www.tyro.com
- Total disclosed funding: $72M
- Latest round: Series D (Nov 29, 2015)
- Investors on record: 2

## About

Based in Sydney, Australia, and founded in 2003, Tyro Payments Limited, formerly known as Moneyswitch Limited, operates as a provider of customized EFTPOS, a financial services solutions for business loans, payment infrastructure, bank account, and POS system that helps businesses to manage and track income and expenses. The company was founded by Paul Wood, Peter Haig, and Andrew Rothwell. In 2007, Tyro launched its first cloud-based EFTPOS solution. The company was backed by companies including Tiger Global Management and TDM Asset Management and became a public company in December 2019.

Aside from providing EFTPOS terminals to retailers and banks, Tyro also provides terminals to medical and healthcare providers. The company offers Medicare and private health fund claiming and rebating services.

The company's revenue is generated by three business segments namely Payments, Banking and Corporate. Payments revenue is earned from terminal rental income, fees, and sale of terminal accessories. Banking revenue came from fees charged on loans to merchants and interest expense on merchants' deposits. Corporate and other includes investment income from financial instruments and other income. Revenue for the fiscal year 2020 increased by 11% from the previous year.

The company has not mentioned any specific plans yet but highlighted AUD 188.3 million in cash and financial investments available for future growth.

## Funding rounds

- Series D, Nov 29, 2015, $72M — Tiger Global Management, TDM Growth Partners

## Investors

- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D
- TDM Growth Partners (https://capitalatlas.ai/funds/tdm-growth-partners) — Series D