London-based fintech Adfin has successfully secured $18 million in a Series A funding round to advance its AI-driven cashflow management platform. The investment, led by Index Ventures, elevates the company's total funding to over $30 million in less than two years since its inception. Adfin aims to revolutionize how businesses handle payments and financial operations by automating complex workflows.
Addressing a Critical Business Challenge
Late payments represent a significant obstacle for small and medium-sized enterprises, with UK data showing nearly two-thirds of invoices are settled past their due date. Adfin directly confronts this issue, reporting that its clients experience a late payment rate of just nine percent. This figure marks a nearly sevenfold improvement over the national average for SMEs.
The platform's effectiveness has attracted a substantial user base, now serving more than 1,500 businesses across the United Kingdom. These clients, ranging from accounting and law firms to professional services companies, leverage Adfin to streamline their financial processes. One customer, an accounting practice, reported a threefold reduction in late payments, freeing up valuable staff time.
The Agentic Finance Platform
At the core of Adfin's solution is what it describes as an "agentic" finance platform for money movement. This system pairs proprietary payment infrastructure with intelligent AI workflows designed to automate invoice chasing, reconciliation, and clearance. The technology is built to decide the most effective follow-up actions for each client invoice.
While the platform focuses on automation, co-founder and CEO Tom Pope emphasizes that it keeps finance teams firmly in control. The system is designed to provide complete transparency and auditability, allowing human oversight of all automated processes. This approach ensures that efficiency gains do not come at the expense of control or accountability.
Strategic Investment and Experienced Leadership
The funding round saw strong support from existing investors, with Index Ventures leading and Visionaries Club participating again. The company also attracted new strategic investors, including former King COO Stéphane Kurgan and Miro founder Andrey Khusid. This backing underscores confidence in Adfin's vision and its experienced leadership team.
The company's leadership brings deep industry expertise to the table, a key factor for investors. Co-founder Tom Pope has extensive experience from his time at Worldpay and Tink, while co-founder Ciprian Diaconasu was a founding engineer at the highly-valued banking platform Mambu. Their combined knowledge provides a strong foundation for the company's ambitious goals.
Future Growth and Platform Expansion
Adfin will allocate the new capital toward significant product development and strategic expansion. The primary goal is to evolve the platform from a payment collection tool into a comprehensive, end-to-end cashflow management system. This expansion reflects the company's updated mission to help businesses around the world operate more effectively.
To support this growth, the company plans to accelerate hiring across its engineering and sales departments. The investment will also facilitate preparations for international expansion, taking its proven model to new markets. A forthcoming feature, "customer agents," will further automate credit control with tailored reminder sequences and late fee calculations.
This $18 million investment positions Adfin to accelerate its mission of transforming business finance operations through intelligent automation. With a proven track record of drastically reducing late payments and the backing of prominent investors, the company is well-equipped for its next growth phase. Adfin's focus on combining advanced AI with robust financial infrastructure signals a significant step forward in cashflow management.