Tyro Payments

Tyro Payments Limited
Unlisted public company
Traded as Tyro
Industry Financial Services
Founded February 2013
Headquarters Sydney, Australia
Area served
 Australia
Key people
 Kerry Roxburgh (Chairman), Gerd Schenkel (CEO), Jost Stollmann (Executive Director),
Products Merchant acquiring, Deposits, Cashflow lending
Revenue $96m [1]
Website www.tyro.com.au

Tyro Payments Limited is an Australian financial "fintech" institution specialising in merchant credit, debit and EFTPOS acquiring.

History

Tyro was founded in 2003 by Peter Haig, Andrew Rothwell and Paul Wood as MoneySwitch Ltd. Tyro was the first new entrant into the Australian EFTPOS business since 1996.[2] It was the second company in Australia to be granted a Specialist Credit Card Institution (SCCI) licence[3] after GE Capital.

In 2015, Tyro was granted a "banking license", ie became an "Authorised Deposit taking Institution (ADI)". [4]

Growth

In 2012, Tyro exceeded $3.5b of card transaction volume.[5]

On 1 March 2016, Tyro completed an equity capital raising of $100,127,532.00 at a price per share of $1.0361 led by Tiger Global, TDM Asset Management, and Atlassian co-founder Mike Cannon-Brookes.[6]

In Financial Year 2016, Tyro grew to $8.6b of transaction volume, a growth of 26% compared to the prior year. [7]

Strategy

Tyro self-describes its strategy to compete with the major banks as "nextgen banking" focusing on Small and Medium Enterprises (SMEs). [8] [9] [10] [11]

As part of that, Tyro is lobbying for a more open data exchange in the traditional banking industry. [12]

Tyro is a regular contributor to the national discussion of financial services regulation [13] [14] [15] [16] and it participates on the Prime Minister's advisory panel. [17]

New CEO

In October 2016, Tyro announced Gerd Schenkel, founder of UBank and Telstra Digital as its new CEO. [18]

Awards

Tyro has been awarded "Deloitte Technology Fast 50" in 2012, 2013, and 2014; "Deloitte Fast 500 Asia Pacific" in 2012, 2013, 2014, and 2015; "BRW Fast 100" in 2010, 2011, 2012, and 2013.[19]

In 2016 Tyro was named "43rd most innovative fintech in the world" by the KPMG H2 Fintech100 survey. [20] Also in 2016, Tyro's founders won the "2016 NSW Pearcey Tech Entrepreneur of the year" award. [21]

Board of Directors

Kerry Roxburgh, Chair [22]

Mike Cannon-Brookes, founder of Atlassian [23]

Rob Fergusson, previously CEO of Bankers Trust [24]

Cathy Harris, chair of Harris Farm Markets [25]

Paul Rickard [26]

Jost Stollmann [27]

References

  1. ↑ https://tyro.com/content/uploads/2016/08/2016-Annual-Report.pdf
  2. ↑ http://fsi.gov.au/files/2014/04/Tyro_Payments_Ltd.pdf
  3. ↑ "Pages - List of Authorised Deposit-taking Institutions". Apra.gov.au. Retrieved 2015-11-26.
  4. ↑ http://www.apra.gov.au/adi/pages/adilist.aspx
  5. ↑ http://www.startupsmart.com.au/advice/finance/independent-eftpos-provider-tyro-surpasses-35-billion-in-transactions/
  6. ↑ https://tyro.com/corporate/
  7. ↑ https://tyro.com/content/uploads/2016/08/2016-Annual-Report.pdf
  8. ↑ http://www.investordaily.com.au/technology/39370-big-four-could-become-big-three-tyro
  9. ↑ http://www.smh.com.au/business/banking-and-finance/tyros-jost-stollman-wants-to-the-beat-the-big-banks-at-small-lending-20151127-gl9r2u.html
  10. ↑ http://www.itwire.com/strategy/74304-a-$7-billion-hit-on-smes,-economy-from-banking-%E2%80%98red-tape%E2%80%99-says-tyro.html
  11. ↑ http://www.cio.com.au/article/599635/fintech-specialists-say-nextgen-banking-may-replace-big-four/
  12. ↑ http://www.theaustralian.com.au/business/financial-services/tyros-new-boss-gerd-schenkel-says-fintech-revolution-mostly-hype/news-story/53f3531516350cd11c873718fe089f12
  13. ↑ http://www.rba.gov.au/payments-and-infrastructure/submissions/standards-for-card-payments-systems/pdf/tyro-payments.pdf
  14. ↑ http://www.rba.gov.au/payments-and-infrastructure/submissions/standards-for-card-payments-systems/pdf/tyro-payments.pdf
  15. ↑ http://www.rba.gov.au/payments-and-infrastructure/payments-system-regulation/past-regulatory-reviews/review-of-card-payment-systems-reforms/pdf/review-0708-pre-conclusions/tyro-25062008.pdf
  16. ↑ http://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-card-payments-regulation/tyro.pdf
  17. ↑ http://www.theaustralian.com.au/business/turnbull-launches-fintech-expert-advisory-committee/news-story/88cbde95b25d1e634c6f169e2a8e2209
  18. ↑ http://www.afr.com/technology/tyro-turns-to-gerd-schenkel-as-new-ceo-to-disrupt-the-banks-20161019-gs5rva
  19. ↑ https://tyro.com/our-story/
  20. ↑ https://h2.vc/reports/fintechinnovators/company/2016/tyro
  21. ↑ https://pearcey.org.au/nsw/
  22. ↑ https://tyro.com/our-team/
  23. ↑ https://tyro.com/our-team/
  24. ↑ https://tyro.com/our-team/
  25. ↑ https://tyro.com/our-team/
  26. ↑ https://tyro.com/our-team/
  27. ↑ https://tyro.com/our-team/

External links


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