Teya has been selected by the Financial Conduct Authority (FCA) for its Scale-up Unit, according to a note from the company.
Teya is a payments, accounts and expense management Fintech that reportedly serves over 75,000 smaller businesses across Europe, including 30,000 in the UK. The company employs 1500 people.
The FCA Scale-up Unit was created in 2025 to improve engagement and support of Fintech firms. Teya is said to be in the first group of participants in the Scale Up Unit’s solo regulated track. Six dual-regulated firms were selected in February. These firms receive a dedicated point of regulatory contact to support their development.
Tom Mylrea-Lowndes, General Counsel & Head of Corporate and Regulatory Affairs at Teya, said that being accepted in the Scale-up Unit is a way for them to harness the FCA’s expertise and resources as they seek to grow their firm.
“We are looking forward to deepening our relationship with the FCA and working together to bring the best financial technology to all high-street businesses. Our long-term vision is to be serving one million local businesses, which we will only reach by constantly enhancing our product offering according to their needs. Initiatives like these from the FCA can provide the runway needed to turn homegrown UK success stories into global champions.”
Recent product enhancements from Teya include a new Business Account that allows users to automate spend management and earn cashback on day-to-day spending. Teya Pro is described as a next-generation card machines that complete transactions in under 1.7 seconds.