Startup with Lithuanian roots Audrius raises €27,5M

New York-based automated income and employment verification platform Argyle, co-founded by Lithuanian entrepreneur Audrius Zujus, has raised €27,5M. The round was led by the US Rockefeller Asset Management’s Fintech Innovation Fund, with participation of San Francisco-based Bain Capital Ventures, investment firm SignalFire, and Checkr, an AI platform that provides background checks for job applicants. The investment came in the form of a mix of equity and debt capital.

Founded in 2018 by Shmulik Fishman (CEO) and Audrius Zujus (CTO), Argyle enables companies to automate income and employment verifications, such as deposit switches, wage advances, and loan repayments. The platform helps companies determine an applicant's ability to pay, reduce fraud, and better underwrite borrowers. In addition, Argyle can verify the employment data and income of gig workers or federal employees, who are not accessible through traditional credit bureau reports.

Among Argyle's customers are companies that provide mortgages, personal lending and are connected to banking industry. The startup processed more than 1.6M annual verifications in 2023 and achieved 360% growth in bookings. The investment will be used to expand the platform and improve the verification experience for prospective customers.