Thera, a notable player in the payroll and payments sector, has successfully closed a $4m seed funding round.
This financial injection saw contributions from notable firms such as Y Combinator, 10x Founders, Amino Capital, Zillionize, and Bayhouse Capital, alongside prominent angels like Oliver Jung, Chris Bakke, Andrew Yeung, Akash Magoon, and Bobby Matson.
Operating at the intersection of technology and finance, Thera offers a comprehensive suite of financial tools under one umbrella, including payroll, treasury, and accounts payable/accounts receivable (AP/AR) services.
The fresh capital will be utilized to accelerate Thera’s growth, focusing on further platform development and team expansion in New York City.
The goal is to address and simplify the complexities of managing global payments, positioning Thera as a leader in bundled financial services, akin to what Wise has achieved in the remittance sector.
In addition to its primary services, Thera processes substantial payroll volumes annually, catering to numerous fast-growing US companies like Oceans, Landed, 1840 & Company, and Zendrop. The company’s strategy revolves around bundling essential financial services to meet the increasing demands of small and medium-sized businesses (SMBs) for integrated solutions.
Thera’s founding story dates back to 2022 when Akhil Reddy, an ex-Amazon engineer who designed systems for Amazon Prime, established the company. Since its inception and subsequent inclusion in the prestigious Y Combinator program, Thera has been at the forefront of simplifying financial operations for companies worldwide.
Thera Founder Akhil Reddy commented, “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.”
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