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Thryv

Can a legacy Yellow Pages publisher transform into the financial and operational OS for service-based SMBs by embedding payments, financing, and CRM into a single platform?

Founded2017
HQDallas, Texas, USA
Latest roundPost-IPO Equity
IndustryVertical SaaS / SMB
The story

Thryv originated from the 2017 merger of legacy Yellow Pages publishers Dex Media and YP Holdings, inheriting a large print-directory business in secular decline. The company rebranded to Thryv in 2019 and aggressively pivoted to a SaaS model, building an all-in-one platform (CRM, reputation management, scheduling, payments) for service-based SMBs. Embedded finance — via ThryvPay for payment processing, Wisetack-powered consumer financing, and a Fora Financial working capital partnership — became a key revenue layer as the company sought to deepen platform stickiness and monetize its existing SMB customer base. The Australian acquisition broadened geographic reach while the core US business continued shifting revenue mix from legacy marketing services toward recurring SaaS fees.

Last 12 months
2024-02
2025-10
Product timeline
2017
Formed through merger of Dex Media and YP Holdings, combining Yellow Pages directory assets into a single company rebranded as DexYP.· pivot
2019
Rebranded from DexYP to Thryv, pivoting to SaaS-first positioning with an all-in-one SMB platform.· pivot
2020
Thryv reported $1.3B in revenue and listed on NASDAQ as THRY; SaaS platform launched to broader SMB market.· ipo
2022
Launched ThryvPay consumer financing option in partnership with Wisetack, enabling installment payments for service-based businesses.· lending
2023
Acquired Thryv Australia (formerly Sensis / Yellow Pages Australia), expanding platform and directory services into the Australian market.· acquisition
2024
Partnered with Fora Financial to offer working capital loans to small business customers via ThryvPay.· lending
The stack
3 layers disclosed in Thryv’s embedded-finance stack
Payments / PSP
ThryvPay (self-operated)
Lending
in the full report
Accounting
in the full report
Accounting gap: minor
5 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.