- Tyro Payments will acquire Australian financial management platform for SMEs, Thriday. Terms of the transaction were not disclosed.
- The acquisition will expand Tyro’s banking and payments capabilities, and accelerate delivery of the company’s integrated, cash-flow management solutions.
- Founded in 2003 and headquartered in Sydney, Australia, Tyro made its Finovate debut at FinovateSpring 2017.
Australia-based fintech Tyro Payments has agreed to acquire SME financial management platform Thriday. Terms of the deal were not immediately available. Tyro said in its statement that the acquisition is part of its strategy to grow its banking and payments capabilities. The transaction will also enable Tyro to accelerate the delivery of integrated, all-in-one cash flow management solutions for its customers.
“Combining Thriday’s smart automation and financial tools with Tyro’s payments and banking capabilities will deliver a more complete and powerful solution for our customers and a platform for further software-driven innovation,” Tyro CFO and Acting CEO Emma Burke said. “We see the acquisition of Thriday as a great win for our business and our customers, and we will continue to pursue M&A opportunities that are aligned with our growth strategy.”
The acquisition is expected to be completed in January 2026, and is subject to customary conditions. The majority of Thriday’s team, including CEO Michael Nuciforo, is expected to join Tyro.
Based in Melbourne, Australia, Thriday offers an integrated banking, accounting, tax, and invoicing solution that serves as a financial operating system for small businesses. The company’s technology automates and streamlines multiple financial administrative tasks for these companies, helping them save time and boost productivity.
“We are excited to join Tyro, a company that shares our commitment to innovation and customer-focused product design,” Thriday’s Nuciforo said. “We look forward to helping Tyro accelerate the delivery of customer solutions that help Australian businesses run smarter and grow faster.”
Tyro made its Finovate debut at FinovateSpring 2017. Founded in 2003 and headquartered in Sydney, Australia, the company provides in-store, online, and on-the-go payment solutions for more than 76,000 merchants throughout Australia. With more than 450 POS partners, Tyro delivers integrated banking and lending solutions to companies in verticals including retail, services, hospitality, and healthcare.
Tyro’s acquisition news follows the company’s November announcement that Nigel Lee, a fintech veteran with more than 25 years of leadership experience, will take over as Chief Executive Officer in January 2025. Lee will replace outgoing CEO Jon Davey.
“I am passionate about the payments industry and have followed Tyro’s story since it was founded in 2003,” Lee said in a statement. “It is exciting to return to Australia to lead one of the country’s most innovative fintechs into its next chapter.”
Photo by Kevan Lin on Unsplash
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