Tyro

Founded 2003 as MoneySwitch, an independent EFTPOS acquirer disrupting the Big Four banks' merchant monopoly in Australia. Earned a full banking licence in 2015 and IPO'd in 2019, then began layering business banking onto its payments base. Since 2024, partnering with Constantinople, Tyro has accelerated a strategic shift from pure payments acquirer to full-service SMB bank — launching transaction accounts and the Tyro Flexi Loan, and acquiring Thriday to add AI-powered financial management. The thesis: payments customers who also bank with Tyro generate 3× the gross profit of payments-only merchants.