Ophelos raises £5m in seed funding led by AlbionVC to expand its debt resolution platform.
AlbionVC led the seed round with participation from Vast Ventures and Form Ventures to support platform expansion and team growth.
Ophelos provides an ethical debt resolution platform that combines machine learning and data analytics to help organisations manage customer debt.
London-based Ophelos has secured £5m in seed funding to scale its debt resolution platform and grow its headcount. AlbionVC led the round, with participation from Vast Ventures and Form Ventures, alongside existing backers Connect Ventures and Fly Ventures. A cohort of prominent angel investors also contributed to the raise.
The capital will support the company as it expands its technology infrastructure and doubles its team across engineering, product, and commercial functions through 2023. Ophelos combines artificial intelligence with ethical practices to help businesses manage customer debt more effectively.
The funding arrives during a testing macroeconomic climate for technology startups, underscoring investor appetite for socially conscious financial software. Ophelos currently works with major energy retailers and fintech brands across the UK.
Investor perspective
"Over the last several years, we have seen a fintech consumer revolution and the provision of debt from businesses to consumers has skyrocketed. As a result, many businesses now have the power to choose where the line between good or poor financial health gets drawn for their customers. It is time for businesses to start drawing this line empathically. We are thrilled to be partnering with the Ophelos team as they rebuild the relationship between businesses and consumers."
Cat McDonald
Investment Director, Albion
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
