Tyro to acquire NAB-backed financial tool Thriday
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The news: Payments services provider Tyro is set to acquire small to medium-sized business-focused financial management platform Thriday, which has previously received backing from NAB Ventures.
The context: Tyro is not disclosing the value of the agreement to acquire Thriday. The platform is touted as an AI-powered system for automate invoicing, expense management, accounting and banking workflows. The technology underpins NAB Bookkeeper.
Deal completion is expected in January 2026 subject to customary conditions. Most of the Thriday team, including CEO Michael Nuciforo, will join Tyro.
Melbourne-based Thriday had been planning a series A raise for this year. It previously completed a $3 million seed round in 2021 with NAB participating in its $6 million pre-series A round in 2022.
What they said: “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,” Tyro chief financial officer and acting CEO Emma Burke 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 strategy.”
The source: ASX
