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EFTPOS provider pursues capital raising

EFTPOS provider pursues capital raising

Peter Dunne, Herbert Smith Freehills

Multiple firms have advised on financial institution Tyro Payments' $100 million capital raising.

Firms: Herbert Smith Freehills (Tyro Payments Limited); King & Wood Mallesons and Gunderson Dettmer (Tiger Global); Gilbert + Tobin (TDM Asset Management)

Deal: Tyro Payments launched a $100m capital raising

Value: $100 million

Area: Capital raising

Key Players: The Herbert Smith Freehills team was led by partner Peter Dunne (pictured), with support from senior associate Sami Wilson and solicitors Ben Waterfall and Harry Edwards.

Deal Significance:

Tyro is Australia’s only independent EFTPOS provider. It serves 14,000-plus customers, processes more than $7 billion annually in card transactions, and has tailored solutions for the retail, health and hospitality sectors.

Tyro has pursued a $100 million capital raising, with capital contributed by private equity fund Tiger Global, TDM Asset Management and existing shareholders.

Herbert Smith Freehills lead partner Peter Dunne said: “Tyro’s milestone capital raising follows the trend set in recent years by Australian tech companies Atlassian, Campaign Monitor and Culture Amp, and the momentum for investing in emerging Australian companies by local and offshore investors shows no signs of slowing.”

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