Opal, a Vancouver, BC, Canada-based provider of a SaaS platform designed to automate back-office operations for agencies, raised $1.5M in Pre-Seed funding.
The round was led by Founders Co-op with support from Exit North Ventures.
The company intends to use the funds to accelerate the development of “Opal Spend,” an ad-spend platform built to connect ad-spend with accounting, invoicing, and contract management.
Opal Spend eliminates the tradeoff agencies face between earning cashback and managing credit risk by drawing funds directly from client accounts instead of extending credit. This allows agencies to benefit from cashback without financial exposure while also reducing overall financial risk. Additionally, the system automatically updates virtual card information across major advertising platforms, including Meta, Google, Apple, Amazon, and many more.
Founded by Alex Steele, Opal is a financial operating system built for agencies, streamlining back-office operations with integrated contract management, invoicing, payments, and cash-flow automation.
FinSMEs
25/02/2025