Adfin | We’ve raised more money! But now back to work.

€12.5M raised in total seed investment to help businesses get paid

Raising more money is a funny moment for a business like ours: on the one hand, it’s great that investors believe in what we’re doing and want to give us more funds to help us do it faster. And that’s something worth talking about.

On the other hand, talking about raising money isn’t that relevant for the people we literally exist to serve: you, our customers. It just feels a bit self-reverential, so we decided that we wouldn’t make any fuss about it and get on with improving the product.

We honestly feel at Adfin like we’re only just getting started. It might sound like a bit of a cliche, but we really are hugely grateful for the trust placed in us by our early customers - hundreds of you now - and humbled by the volume that is now moving on our platform. We have seen the demand out there for a new, modern payments platform that brings all the different systems into one, automates all the manual work you have to do today around that platform, and does it for a transparent and fair price. We know what you demand from a payments partner and we’re working relentlessly to deliver it.

Rebuilding business payments – for the future

So our initial instincts were to not talk about raising more money at all, but there are two reasons it is perhaps relevant: firstly, it gives us much greater financial security; and secondly, it gives us the resources to run even faster.

On the first point, we were already in a strong financial position thanks to our pre-seed funding in April 2024. Building payments infrastructure is hard and therefore expensive, so bootstrapping was never an option for us. This latest funding round brings our total investment to €12.5M and ensures we have the backing to go the distance and support you for years to come.

On the second point, we are hugely ambitious. Building the accounts receivables infrastructure for the future is our cornerstone, but we know there is much more to accounts receivables than great payment infrastructure. We are already investing heavily in AI, seeing the potential not only to help us build a better company faster, but also help you automate more of the manual tasks that surround managing receivables. Our focus for the next few quarters remains building the very best payments platform for you - professional services firms - and your customers. We want to give you the tools to be at the centre of your customers’ finances: whether that is managing credit control, receivables, payables, cashflow, or treasury. We continue to invest heavily in supporting our critical platform partners, who want to integrate the very best payments solutions to their products, freeing up their time to focus on the value they add from their core software.

Building a high-performance payments team with a lean mindset

This funding round was from our existing top-tier investors, Index Ventures and Visionaries Club, who invest with a very long time horizon and bring considerable domain expertise. We will be deploying those funds purely against our product objectives above. We are not moving into a fancy new office or buying huge flashy stands at exhibitions or buying more biscuits (or any biscuits - new year resolutions ;)). In fact, we’ve just launched a review of spending to make sure we’re not wasting any money. Being lean and efficient is the only way we can maintain the promises in our Pricing Transparency Manifesto. The investment is all going towards building our product, which means investing primarily in hiring more software engineers, expanding our world-class teams in London and Romania.

We are enormously grateful to all the businesses who have trusted us so far. We are building Adfin because we believe that business payments - and finance generally - is broken for SMBs. We believe that for most businesses - accountants, lawyers, construction, education, healthcare - managing money is still time consuming, expensive, and tedious. And we believe AI offers a generational opportunity to upgrade this experience.

Thank you for your support: we’re excited to move even faster together!

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We’ve raised more money! But now back to work.

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