Leading payroll and payments platform Thera has announced that it has raised a $4 million seed round with participation from Y Combinator, 10x Founders, Amino Capital, Zillionize, and Bayhouse Capital. And notable angels in the round include Oliver Jung, Chris Bakke, Andrew Yeung, Akash Magoon, and Bobby Matson. The company will use the funding to accelerate its growth by further developing its platform and expanding the team in NYC.
Managing payments for a global team is complex and expensive. Thera replaces multiple financial tools, providing businesses with a seamless experience and the best rates available in the market and its platform includes an ecosystem of apps including payroll, treasury, and AP/AR.
Thera was launched in 2022 and was accepted into the Y Combinator startup accelerator. As of this funding round, Thera processes tens of millions of dollars in payroll annually for thousands of workers globally. And its customers include some of the fastest growing companies in the United States including Oceans, Landed, 1840 & Company, and Zendrop.
KEY QUOTES:
“Payments continue to be a massive challenge for many companies today. Through our unique bundled app model and customer-centric approach, we strive to create a streamlined experience to manage all financial ops all while increasing our customer’s bottom line. We are committed to providing the rates and transparency the industry so desperately needs. What Wise did in the remittance space, we’re doing in the B2B payments space.”
– Akhil Reddy, Founder of Thera
“SMBs today are increasingly demanding bundled solutions. Thera replaces multiple financial tools, allowing businesses to manage their finances, payroll, payments, and compliance from one simple platform.”
– Nicolas Dessaigne, Group Partner at Y Combinator
