Teller, Inc.

Teller, Inc. is a financial technology company that offers a robust API for seamless bank account connectivity, enabling applications to access real-time financial data and improve user engagement. Teller, Inc. focuses on providing integration solutions for bank connectivity, allowing users to verify account ownership and access real-time data from over 7,000 financial institutions.

Founded by Stevie Graham, the company is headquartered in London, UK. On January 27, 2020, Teller raised USD 4 mn in Seed funding from investors including Founders Fund, Lightspeed Venture Partners, and SciFi VC, which contributed to its total amount raised of USD 4 mn. Teller is a financial technology company that provides an API designed to facilitate seamless integration of bank account connectivity within applications. The core product enables users to verify account ownership and access real-time data, such as balances and transaction histories, from over 7,000 financial institutions.

This functionality is particularly beneficial for fintech applications seeking to minimize customer churn and support workload by ensuring stable and reliable bank connections. Teller's services are geared towards developers and businesses across various sectors, primarily in North America, who aim to build more engaging applications that leverage instant payments through services like Zelle. The company caters to independent developers and larger enterprises, offering a robust developer tier as well as customizable solutions for significant client needs. Teller operates on a structured revenue model that charges clients based on account connections and API usage.

The pricing framework includes a fee of USD 1. 50 per account and USD 0. 10 per API call, which facilitates transactions between the company and its clients, primarily in a B2B context. Additionally, there is a monthly fee of USD 0.

30 per enrollment, allowing businesses to manage and monitor their integrations efficiently. For enterprise clients, custom pricing options are available, reflecting the unique requirements of large-scale applications. By offering a tiered pricing structure, Teller ensures flexibility and scalability for its clients, fostering ongoing revenue generation as they expand their use of the API and increase transaction volumes. Teller, Inc.

plans to leverage its recent Seed funding of USD 4 mn, raised in January 2020, to enhance its API capabilities and expand into new geographic regions. The company is targeting further developments in its product offerings aimed at improving user experiences within fintech applications. Specific new product launches are anticipated to align with market demands over the next 12 to 18 months, while expansion efforts will focus on increasing its footprint in North America and exploring opportunities in Europe. This strategic approach will be supported by the latest funding to scale its operations and meet client needs.