London fintech Teya launches in Spain and Italy amid European expansion
Payments business Teya has added two new countries to its operations as it marks the next phase in its global expansion.
The London-based fintech, which is incorporated in the Cayman Islands, is this week launching in Spain and Italy after successful pilot projects in both countries began in July.
The move means Teya, which was previously known as Salt Pay before a rebrand, now serves customers in nine countries across Europe including Croatia, Hungary and Portugal.
According to Teya, the growing SME economies of Spain and Italy present a “significant opportunity” for the fintech to be a “financial ally” to small businesses. Home to almost 6.7m SMEs, one in every four small businesses in the European Union is based in Italy or Spain. Together, they employ more than 21m people and added over €1 trillion to the European economy in 2024.
Tom Mylrea-Lowndes, a member of Teya’s executive committee, told Morning Wire: “Spain with a lot of those traditional banking players, simply hasn’t had that innovation and so that’s why we’re excited about those markets today.
“But that’s not to say we’re not excited about other markets and we don’t have plans to continue to look at those as we progress over the coming years.
“We’re committed to a pan-European execution over the course of this journey. What’s important to us is that we do that consciously and sequentially and that we do that in a way we can bring that service.”
Founded in 2019, Teya offers point-of-sale solutions with fast settlements, business accounts with a Teya card, and flexible credit, all managed through a single app.
The company is backed by the likes of investors Tiger Global and Ribbit Capital, as well as by billionaire Conservative peer Michael Spencer.
In its latest UK accounts, the fintech, which employs more than 200 staff, posted turnover of £19m in 2024, a more than doubling on the previous year, while pre-tax losses fell from £110m to £64m.
Teya said the UK accounts did not represent the entire business but refused multiple requests for group figures.
Teya’s expansion into Spain and Italy follows the launch of product innovations for its 75,000-strong European customer base, including Tap to Pay on iPhone launched in October 2025.
The firm raised $500m in a 2021 funding round.