Ophelos raises £1.6m pre-seed funding from Connect Ventures and Fly Ventures to scale its debt management platform.
The pre-seed round was co-led by Connect Ventures and Fly Ventures to support platform development and team expansion.
Ophelos provides a digital debt management platform that combines artificial intelligence and behavioural science to help businesses recover debts while improving customer financial health. The London based startup partners with corporate clients to modernise the traditional debt collection sector.
Ophelos has secured £1.6m in pre-seed funding to advance its debt management platform and expand its engineering and customer operations teams. The investment round was co-led by Connect Ventures and Fly Ventures.
The London based startup applies artificial intelligence and behavioural science to modernise the debt collection industry, offering digital communication and flexible repayment plans for consumers. Initial deployments indicate improvements in debt recovery rates and reductions in operating costs for corporate clients.
The new capital will support the company as it scales its operations and continues to develop products aimed at improving financial health for consumers and businesses.
From the founder
"We started Ophelos to create customer-centric products and services that nurture financially healthy and trusted relationships between consumers and businesses. The debt collection industry felt like a natural starting point because it allows us to understand, diagnose and address many of the underlying issues surrounding financial health. It’s also an industry in desperate need of change towards a more technology-driven, and most importantly, customer-centric approach. We want to create a world where everyone is financially educated, empowered and equal — reimagining the debt collection industry is just a first step towards our larger goal."
Amon Ghaiumy
Co-Founder and CEO at Ophelos
Investor perspective
"Credit is a fundamental and growing part of our consumer economy. Fintech has given us many great innovations, including improved access to credit, but debt management has so far remained largely untouched and unloved. We see a very large opportunity to build superior digital products for consumers to understand and manage their personal debts. And at the same time it provides a strong customer-centric approach that enterprises expect to offer in all other parts of their business. Ophelos is the company that is going to make a difference here. It has a brilliant team that is re-thinking debt collection for the 21st Century and I look forward to working with them on this journey."
Rory Stirling
General Partner, Connect Ventures
Use of funds
- 01Continue product development
- 02Grow the team
- 03Scale operations
