Adfin, a fintech startup that helps businesses get manage cashflow, has raised £13 million in Series A funding led by Index Ventures, with participation from Visionaries Club and new investors Stéphane Kurgan and Andrey Khusid. The funding brings Adfin’s total funding to more than £22 million in less than two years. With the Series A, Adfin plans to expand its product into end-to-end cashflow management, step up hiring across engineering and sales, and prepare for international expansion.
Across the UK, almost two-thirds of invoices sent by SMEs are paid late, according to figures cited by Adfin. The platform combines payment infrastructure with automated finance workflows to help businesses decide the best course of action for each client and automate invoice-chasing tasks. Customers using Adfin currently see 9% of invoices paid late, compared with the wider UK figure of 63%, according to the business.
Used by more than 1,500 businesses across the UK, the platform serves accounting and law firms alongside businesses in professional services, trades and care. Steve Pye & Co, a Norwich-based accounting practice, said the product reduced the number of invoices paid late by nearly three times while freeing staff from manual payment chasing.
The investment comes after Adfin was named the third fastest-growing technology company in Europe and the fastest-growing UK company by Scaling Europe. Founders Tom Pope and Ciprian Diaconasu both previously worked in payments and fintech infrastructure. Pope spent more than a decade building payments infrastructure for Worldpay and Tink, which was acquired by Visa for $2.2bn, while Diaconasu was the founding engineer at Mambu.
Adfin is building the agentic finance platform for money movement: automating the workflows finance teams use to get paid, manage their money, and, in time, much more. And we're doing it the way our customers keep telling us they want: safe, auditable, trackable, with humans firmly in control. By owning both the underlying financial infrastructure and the agentic workflows on top, we'll let finance teams deploy agents in a way nobody else can. Why does this matter? If you're getting paid faster and optimising how you manage cash, you're building a better business. Money movement isn't admin, it's the bloodstream of every company. We believe this so strongly that we've rewritten our mission around it: Adfin exists to help the world build better businesses.
Index backs founders who have the rare ability to obsess over a problem and build category-defining businesses. We see that same pattern in Tom and Ciprian. We backed them at pre-seed and seed and we're tripling down, because their results speak for themselves.
Since using Adfin we’ve seen nearly a 3x reduction in the number of our invoices that are paid late. It’s had a meaningful impact on our cashflow. It also means our team no longer has to spend time chasing invoices, and instead can focus on serving our customers and growing our business.
