Australian fintech bank Tyro Payments Limited, which specialises in merchant credit, debit and EFTPOS acquiring, has reported a full-year profit and loss report for FY 2018, posting a net loss after tax of A$16.4 million (a further increase from the FY17 loss of $12.8 million).Tyro said the losses were due to its practice of expensing all of its investment in technology and product development in FY18 so that no internal development spend is carried on the balance sheet.Beyond this point the numbers are positive. Financial highlights in FY18, as nominated by Kerry Roxburgh, the outgoing chairman of Tyro Payments, included:•    a 23 per cent increase in total revenues to $148.3 million (FY17: $120.6 million);•    the value of payments transacted showed a 26 per cent increase, reaching $13.4 billion (FY17: $10.6 billion);•    loan originations in the year reaching $25.2 million, a 127 per cent increase (FY17: $11.1 million);•    197 per cent increase in deposit balances ending the year at $11.6 million (FY17: $3.9 million).In FY18, the company processed $13.4 billion in transaction volumes, a year on year increase of 26 per cent and an acceleration of the 23 per cent growth rate delivered in the prior year. This means that the compound annual growth rate (CAGR) from FY12 to FY18, in terms of transaction volumes has been at around 29 per cent. "We added close to 5,000 new merchants to our payments business, taking the total number of merchants trusting Tyro with their EFTPOS and payments requirements to more than 23,000 - a 27 per cent increase on FY17 (and up on the 18 per cent growth achieved in FY17)," said newly-hired chief executive officer Robbie Cooke, who's been in the job since March.He also mentioned Tyro's banking business, with its merchant cash advance loan product. This single line item has, to date, only been offered to circa 4,000 of Tyro's 23,000 merchants.  Funds on deposit increased to $11.6m from $3.9m the year before.The business loans product originated $25.2m in loans in FY18, a 127 per cent year-on-year increase, bringing total originations to more than $35m. The company recorded only $411k (1.6 per cent) in lending losses for the year on an outstanding loan balance of $5.5m.Similarly, strong growth, albeit from a low base has been achieved by the Tyro Bank Account, a fee-free and interest paying business transaction deposit account, with 1,285 active accounts in existence at year's end, a 262 per cent increase on prior year (FY17: 355 active accounts).The Bank Account product added 930 net new active customers in the half to take total accounts to 1,258 active customers at 30 June 2018, up from 355 a year before.