Adfin, a London-based AI-powered revenue collection platform, has raised $18M in Series A funding led by Index Ventures. The platform automates end-to-end accounts receivable workflows, from invoice capture to intelligent payment chasing and collection via direct debit, cards, and bank transfers. The capital will fuel expansion of agentic AI features and international growth.
UK Late Payments Hit Record Highs
The funding arrives as UK overdue invoices climb 3% to 17.48 million, with 63% of SME invoices paid late on average per Adfin data. This crisis costs businesses £11 billion annually and contributes to 14,000 closures according to government consultations. Adfin's customers achieve just 9% late payments, 7x better than the UK average as reported by The Next Web. Recent government reforms aim to tackle these issues, creating tailwinds for automation tools.
Agentic AI Reshapes Credit Control
Legacy systems rely on manual chasing, but Adfin's Autopilot uses AI agents to send personalized reminders via email, WhatsApp, or SMS, boosting direct debit signups 3x faster per company changelog. It handles invoice extraction from any format and auto-reconciles payments across methods. Unlike payment-only platforms, Adfin owns the full stack for seamless control.
Full-Stack Ownership Beats Fragmented Rivals
Competitors like GoCardless focus on direct debit amid restructuring, while Billtrust targets enterprises. Adfin serves 1,500+ UK SMEs and accountants with unified capture, control, and collect via Tech Funding News. Customers save 80 hours monthly on credit control and recover £30k in capital from company site.
Index Doubles Down on Fintech Vision
Index Ventures led the round, marking their third investment after seed and pre-seed, bringing total funding over $30M in under two years per FinTech Global. New backers include Stephane Kurgan (ex-King COO) and Andrey Khusid (Miro co-founder). This signals conviction in agentic finance beyond payments.
As Tom Pope, CEO and co-founder, noted:
"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."
AR Market Scales to $11.6B
The accounts receivable automation market stands at $4.8B in 2026, projected to reach $11.6B by 2033 at 13.4% CAGR per Coherent Market Insights. Adfin ranked #3 fastest-growing European tech firm with 7,068% growth via Scaling Europe. GoCardless reported 22% revenue growth but plans 90 role cuts, highlighting consolidation as covered by Tech.eu.
Fintech Founders Drive Differentiation
Co-founders Tom Pope and Sam Jennings bring experience from Worldpay, Tink, and Mambu per Tech Funding News. Their prior roles inform Adfin's infrastructure ownership, enabling AI agents that execute client-specific actions.
Hiring Signals Global Push
Post-funding, Adfin is hiring tech leads, sales development reps, and marketing roles in London from recent posts. Upcoming features include customer agents for credit control and expansion into payables analytics via Ventureburn. ABC Club partnerships with accountants will scale to zero-fee direct debits.