Here's the original -- and completely wrong -- timeline for fintech startup Tyro to break even

Australian payments and financial technology company Tyro, with its Atlassian and Blackbird Ventures backing, began like most startups, with a blue-sky plan to disrupt an industry and solve a problem.

Speaking at Sunrise in Sydney today Tyro CEO Jost Stollmann explained “these businesses don’t get started if the founders aren’t naive.”

This timeline shows how far off the mark the founders were at the beginning of the Tyro startup journey. The original plan was to spend $1.8 million to build its banking product, launch it in May 2004 and breakeven by June 2005.

In reality, Tyro officially launched a product in 2007 after burning through $18 million. It took nine years and another $15 million before the startup had broken-even.

“It took unbelievably long and it took much more money,” he said.

“This business concept needs a lot of money before it breaks even,” Stollmann said, adding “patient capital” isn’t available in Australia.

“There’s a huge problem in Australia about growth capital,” Stollmann said.

Stollmann explained banking and health are areas where tech is starting to disrupt. But it’s “difficult” because of the strong, entrenched competitors and heavy regulation.

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