ASX-listed Tyro Payments (ASX: TYR) is acquiring small business “CFO in your pocket” startup Thriday.
The terms of the deal were not disclosed, with the acquisition expected to complete in January 2026.
Thriday is an AI-powered financial management platform for SMEs that automates invoicing, expense management, accounting and banking workflows.
CEO Michael Nuciforo, a former head of mobile banking for Lloyd’s Bank and RBS, who launched the first-ever mobile banking service in Australia at ANZ, will join Tyro.
Nuciforo cofounded the Melbourne fintech as Thrive with Ben Winford in 2020. It was backed by NAB Ventures during a $6 million pre-Series A in 2022 and also raised a record $3 million in three days in February 2021, through equity crowdfunding. In 2023 is was selected to be part of LaunchVic’s 30×30 program for startups with unicorn – a $1 billion valuation – potential.
The fintech pitched itself as a Xero and MYOB rival for SMEs.
Tyro CFO and acting CEO, Emma Burke, said the acquisition was part of a strategy to expand banking and payments capabilities and will accelerate plans for integrated all-in-one cash-flow management solutions for business.
“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,” she 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 22-year-old payments provider which listed on the ASX just as Thriday was born, in one of the biggest floats of 2019, raising $280m at $2.75 a share. But since a record low of $0.62 cents in mid-2022, the company’s share price has bounced along around the $1 mark amid a series on controversies. In August the business was a takeover target, although nothing came of the non-binding offers.
And while Tyro focused on EFTPOS and merchant terminals it didn’t have financial admin products to support SMEs. Thriday plugs that gap.
After six years as a startup, Nuciforo said the exit was and exiting moment with the two companies sharing a commitment to customer-focused product design.
“We look forward to helping Tyro accelerate the delivery of customer solutions that help Australian businesses run smarter and grow faster,” he said.
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