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FEB. 20, 2020

TYR

With close to 59,000 terminals now in the field, we are the fifth largest merchant acquiring bank in the market with the big four holding the top slots," says Tyro Payments CEO Robbie Cooke

The Sydney-based company reported a 29.7 per cent surge in processed transactions to $11.1 billion in the first half of FY20, as more businesses turned to its solutions ranging from credit and debit to Medicare and private health fund claims.

With significant backing from the likes of Mike Cannon-Brookes' investment vehicle Grok Ventures and Euclid Capital Partners managing director Danita Lowes, the group raised $125 million to list on the ASX in mid-December.

Since then its share price has risen by 28 per cent, which exemplifies the heightened interest from investors in fintechs that challenge banking norms.Tyro's EBITDA went into positive territory as well to $1.5 million, following a $3 million loss in the first half of FY19.

Looks like the smart money is going into "Fintech" stocks - TYR has a very bright future.