18 June 2019

Tyro Fintech Hub announcement

(Sydney) Tyro’s CEO, Robbie Cooke, today announced Melbourne-based tech and innovation hub, YBF Ventures, will take operational control and ownership of the Fintech Hub on Level 5 of Tyro’s Clarence St offices from 1 July.

Tyro opened the Fintech Hub in 2015 to facilitate the growth of Sydney’s – and Australia’s – fintech community, of which it was one of the pioneers. Since the space opened, more than 100 businesses have taken advantage of the facility.

Mr Cooke said as Tyro focused on its core payments and banking operations it made sense to partner with an organisation whose core expertise is the operation of tech and innovation hubs.

He said YBF had proven success running its hub in Melbourne and was well-placed to grow the Sydney Hub, with Tyro remaining a corporate partner. This will ensure the Hub is best placed to foster the next generation of startups.

As part of the transaction, Tyro will also be taking a small equity interest in YBF’s tech and innovation hub operating entities.

 

For more information contact:

Media enquiries: Matt Johnston – 0432 535 893

Investor enquiries: Robbie Cooke – contact Monique Rennell on 02 8224 8721