TDM was one of two global investors to fund the company’s $100m private capital raising in 2015. The company was looking for support and capital to execute on a bold growth plan to transform the small business banking experience in Australia. In addition, Tyro was looking for an investor with the capability to help prepare the business for an IPO and life as a publicly listed company.
TDM has grown from being an SMB itself and understood first hand how broken the banking experience was for small businesses in Australia and how ripe for innovation the industry was. We loved the management team’s passion to solve a big problem with in-house, best-of-breed software, allowing them to scale quickly to meet the needs of a huge addressable market.
TDM has invested over $65m, and is now one of Tyro’s two largest shareholders, supporting a fast-growing Australian software business. We continue to support Tyro as the business scales and look forward to continuing to be a long-term supportive and active shareholder.
Tyro is perhaps one of Australia’s greatest software success stories. Powered by best-of-breed software and technology, Tyro continues to solve and deliver a frictionless banking experience for SMEs in Australia.
Tyro has grown revenue from $28 million in 2012 to $210 million in FY20 and listed on the ASX in December 2019, with a market capitalisation of $1.68b.
‘’TDM are a unique investor – principled, deeply thoughtful, and truly capable of bringing local and global business insights. They understand what it takes to build high a performing business and have an investment horizon which enables them to collaborate with management to drive sustainable long-term growth.’’