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Teal Announces $8M Seed Investment to Drive Next-Gen Accounting Products for Vertical SaaS
Teal, a rapidly growing startup specializing in accounting infrastructure for Vertical SaaS businesses, has announced $8 USD million in seed funding. Founded in 2023 by Ian Crosby, former Head of Financial Services at Shopify and CEO and co-founder of Bench Accounting, Teal allows Vertical SaaS businesses to build their own accounting suites to offer to their SMB customers. The round was led by Torch Capital with participation from Basis Set Ventures, General Advance, Dash Fund, and angel investors including executives at Service Titan, Plaid, Brex, Unit, and Gusto.
Teal equips companies with the APIs and tools to build their own accounting offerings for small business customers, allowing the end-customer SMBs to draw critical insights like real-time cash flow and per product profitability, as well as file their taxes and get support from live bookkeepers.
“Teal is building the Stripe for accounting. Just like Stripe provides the underlying infrastructure for Vertical SaaS companies to build payments products, Teal provides the infrastructure for Vertical SaaS companies to build and offer accounting features within their platforms,” said Ian Crosby, Co-Founder and CEO of Teal. “Having led Bench Accounting, the largest bookkeeping service for SMBs for a decade, I saw firsthand the limitations of standalone accounting software that is not integrated into the rest of a business’ core platform. We built Teal to address this problem.”
The need for embedded finance for Vertical SaaS is growing exponentially, but the number one demanded feature that has not yet been incorporated is accounting. The absence of an accounting solution is the top reason for lack of adoption of financial services features. By offering software directly within their platforms, Teal’s customers create a financial hub that enhances engagement with the rest of their financial service products such as payments, invoices, and banking.
“We’re thrilled to be supporting Teal in its mission to revolutionize the accounting space for SMBs. There are 30M+ SMBs in the US, and at Torch, we invest behind the tools and platforms that help their businesses thrive. There’s a huge, dire need for streamlined and intuitive accounting tools, and Teal’s embedded approach, coupled with Ian and team’s proven track record of building standout financial software will address these long standing pain points. Teal’s rapid growth and early success are a testament to this,” says Katie Reiner, Partner at Torch Capital.
Teal offers a suite of out-of-the box tools to allow Vertical SaaS companies to launch their accounting platforms in as little as four weeks, including fully functioning app code repositories and native data integrations with external data sources such as Plaid.
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Block Street Raises $11.5 million to Launch Monad-First Unified Liquidity Layer for Tokenized equities
Block Street, a startup building an execution and lending layer for tokenized equities, said it raised $11.5 million in strategic funding to deploy its intent/RFQ-based trading infrastructure on Monad and major EVM networks. The round was led by Hack VC with participation from Generative Venture, DWF Labs, StudioB, and Bridge34, alongside angels from fintech unicorns and operators at Jane Street, Point72 and HRT, according to the company.
Molten Ventures VCT Launches £30 Million Fundraise
In the last 18 months the VCT has reported four exits, including selling breast cancer scanner Endomag to US listed Hologic, fraud detection business Ravelin to Worldpay and retail investment platform Freetrade to IG Group. While the portfolio still contains a handful of legacy holdings, the vast majority of the VCT’s money is now in the high growth tech companies typical of Molten Ventures.
Agio Ratings Closes Funding Round to Expand Risk Management Tools for Digital Assets
Agio Ratings, the premier source of risk insights in digital assets, has closed a $6 million funding round led by AlbionVC, bringing the total raised to over $11M. The round, which also saw participation from Portage Ventures and MS&AD, will enable Agio Ratings to expand its research and engineering teams, broadening the scope of its risk ratings and supporting major banks as they enter the digital asset market.
PEAK:AIO Secures Over $6.8M in Seed Round Funding to Accelerate Innovation, Growth and Expansion in Global Markets
PEAK:AIO, the data infrastructure pioneer redefining AI-first data acceleration, today announced that the company has raised over $6.8M in Seed Round funding led by Pembroke VCT with a $5 million investment, with participation from Praetura Ventures, and also joined by a Silicon Valley investor. PEAK:AIO will use this funding to continue investing in AI to grow its groundbreaking solution for the data storage sector and further expand its global presence.
Maven VCTs Launch £50 Million Fundraise
The Maven VCTs are also notable for the diversification they offer. Spread an investment across all four Maven VCTs and an investor will be invested in over 130 private and AIM quoted companies. A diverse portfolio helps ensure individual failures, inevitable when investing in small companies, don’t sink the whole VCT.
Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers
Lastro, a Brazilian artificial intelligence proptech, announced a Series A round of $15 million led by Prosus Ventures, a global tech operator and investor and major shareholder in iFood and OLX. FJ Labs and Endeavor Scale-Up Ventures also participated in the round, along with existing investors Canary, QED and 1Sharpe Ventures.
Baselane Announces $34M in New Funding, Debuts AI-Powered Tools to Automate Banking and Bookkeeping for Real Estate Investors
Baselane, the banking and financial platform purpose-built for real estate investors, today announced it has raised a total of $34.4 million in new funding, including a recently closed $20 million Series B led by Thomvest Ventures and a previously unannounced $14.4 million Series A led by Matrix Partners. The funding milestone coincides with the launch of Baselane Smart, a subscription-based suite of AI-powered automation tools designed to give landlords greater control, efficiency, and insight into their rental property finances.
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ING Appoints Gary Prince as Head of Financial Markets, UK
A seasoned industry leader with more than 30 years of experience in global markets across top-tier wholesale banks, Gary brings deep expertise and strategic insight to the role.
Wise Challenges India’s Forex Card Market: Announces Country’s First Travel Card
Wise, the global technology company building the best way to move and manage money worldwide, today opened the waitlist for the highly requested Wise Travel Card in India.
Worldpay and East West Bank Expand Access to Advanced Payment Solutions
Worldpay® and East West Bank, a leading U.S. bank with domestic and international reach, have joined forces to expand payment solutions for the bank’s commercial and business customers. This agreement builds on Worldpay’s U.S. distribution and gives East West Bank clients access to Worldpay’s industry-leading payment tools — including point-of-sale, smart terminals, omnichannel, eCommerce, and loyalty solutions — designed to help businesses grow with confidence and operate more efficiently.
Ted Swimmer Named Head of Commercial Banking at Citizens; McCree to Retire in March 2026
Citizens Financial Group, Inc. (NYSE: CFG) today announced that Ted Swimmer, head of capital markets and advisory for Citizens Commercial Banking, has been named Head of Commercial Banking, effective immediately. Swimmer succeeds Don McCree, who will remain at Citizens as Chair of Commercial Banking until his retirement at the end of March 2026.
EXCLUSIVE: “Raising the Phoenix” – Ad van der Poel, HSBC Innovation Banking in ‘The Fintech Magazine’
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NatWest Invests in JS Group to Enhance the Delivery and Impact of Student Financial Support
Aspire is designed to deliver measurable impact by streamlining the distribution of various types of student financial aid, ensuring that beneficiaries receive their funds promptly and securely while materially reducing the time and administrative costs involved for funders.