Thera, a leading payroll and payments platform, has announced that it has raised a $4 million Seed round with participation from Y Combinator, 10x Founders, Amino Capital, Zillionize, and Bayhouse Capital. Notable angels in the round include Oliver Jung, Chris Bakke, Andrew Yeung, Akash Magoon, and Bobby Matson. The company will use the funds to accelerate its growth by further developing its platform and expanding its team in New York City.

Managing payments for a global team is complex, opaque, and expensive. Fintech is entering a bundling era, and Thera is leading the charge. Thera replaces multiple financial tools, providing businesses with a seamless experience and the best rates available in the market. Its platform includes an ecosystem of apps including payroll, treasury, and AP/AR.

“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,” said Akhil Reddy, Founder of Thera. “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.”

Thera was founded in 2022 and was accepted into Y Combinator—the most prestigious startup accelerator in the world. As of this fundraise, Thera processes tens of millions of dollars in payroll annually for thousands of workers globally. Its customers include some of the fastest growing companies in the United States including Oceans, Landed, 1840 & Company, and Zendrop.

"SMBs today are increasingly demanding bundled solutions," said Nicolas Dessaigne, Group Partner. Y Combinator. "Thera replaces multiple financial tools, allowing businesses to manage their finances, payroll, payments, and compliance from one simple platform."