Teal raises £1.4m in pre-seed funding led by Passion Capital to expand payroll integrations.
Passion Capital led the pre-seed round, which will fund team expansion and integration partnerships across the UK and Europe.
Teal builds financial data solutions for the credit industry, using payroll data to improve risk assessment and lending decisions. The company operates an API platform that provides real-time income and employment verification.
London-based financial data platform Teal has secured £1.4m in pre-seed funding to expand its payroll integration network and grow its team. Passion Capital led the round, with participation from ACF Investors, K Fund, and angel investors from fintechs such as Plaid and Checkout.
The company plans to use the capital to deepen partnerships with payroll providers across the UK and Europe while scaling adoption among credit platforms. Teal offers a modular API architecture that enables lenders to streamline underwriting and perform ongoing employment checks.
Founded by Michael Hart, André Pinto, and Luchesar Cekov, the firm aims to address shortcomings in traditional credit scoring by putting verified payroll data at the center of affordability assessments. The latest financing will also support the development of broader income data sources and AI-driven automation across the credit lifecycle.
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Accelerate go-to-market
