Tyro Payments Limited, a Sidney, Australia-based point-of-sale payment solutions provider, secured A$100m in funding.
Backers included Tiger Global Management, TDM Asset Management and Australian technology entrepreneur Mike Cannon-Brookes. In conjunction with the funding, Catherine Harris joined Tyro’s board.
The company intends to use the funds to accelerate growth initiatives and new product development.
Led by CEO Jost Stollmann, Tyro is a financial institution providing Australian merchants with credit/debit card processing solutions. The company currently serves more than 14,000 businesses in Australia and processes over $8 billion annually in transactions through its internally developed, cloud based platform, which integrates with its customers’ business systems providing a payment solution.
In August this year, Tyro was granted a banking licence by the Australian Prudential Regulatory Authority, allowing it to accept deposits and to advance money to Australian businesses.