Opal Announces $1.5M Pre-Seed Investment to Build All-in-One Software for Ad-Agencies
Built by agency founder and backed by top fintech investors, Opal streamlines back-office tasks so agencies can focus on creativity and scale with confidence
February 25, 2025 12:00 PM Eastern Standard Time
VANCOUVER, British Columbia–(BUSINESS WIRE)–Opal, a SaaS platform designed to automate back-office operations for agencies, today announced $1.5M in pre-seed funding. The round was led by Founders Co-op with support from Exit North Ventures. This investment will fuel the development of “Opal Spend,” an ad-spend platform built to seamlessly connect ad-spend with accounting, invoicing, and contract management.
“I’ve seen firsthand how Alex’s determination and technical talent have shaped Opal into a game-changing financial platform”Post this
Founded in 2024 by Alex Steele to solve billing headaches at his media buying agency, Easy Agency, Opal offers an all-in-one platform that replaces fragmented, horizontal tools. Since launching, the company has grown 400% and attracted top engineering talent, including a team of former X engineers. By automating tedious and repetitive workflows into a single platform, Opal enables agencies to close deals faster and focus on creating value for clients.
This investment will accelerate Opal’s mission and bring to market “Opal Spend,” the industry’s first purpose-built ad-spend solution that seamlessly integrates ad spend, accounting, and invoicing in one unified system. “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.
“Opal is building the Shopify for agencies. Just like Shopify provides the back-end of an ecommerce business, Opal provides the operating system for agencies. Having led an agency for years, we constantly juggled multiple back-office tools that don’t talk to each other, so half of our back-office work was copying the same data over and over into different horizontal tools,” said Alex Steele, Founder and CEO of Opal. “We built Opal to be a modern financial backbone for agencies—one that reduces friction from contract creation all the way through invoicing and payment. With the launch of Opal Spend, we are putting everything—contracts, invoicing, payments, attribution—under one umbrella, reducing friction, speeding up revenue, and delivering a clearer picture of performance. All an agency should worry about is getting customers and serving them well. Opal makes that a reality.”
This new approach addresses many shortcomings in existing ad spend solutions, such as disorganized account statements, lack of customer-segmented cards, and insufficient finance automation. By housing all these capabilities under one roof, agencies gain streamlined workflows that eliminate manual data entry, expedite invoicing, and simplify reporting—while also capturing cash-back rewards as a new profit source. Larger advertisers can take advantage of the same tools to retain budget ownership and maintain comprehensive visibility over their expenditures and campaign performance.
“I’ve seen firsthand how Alex’s determination and technical talent have shaped Opal into a game-changing financial platform,” said Ian Crosby, Head of Accounting Products at Mercury. “It’s not just streamlining day-to-day finances—it’s redefining how agencies and brands manage ad spending, and I’m excited to support Opal’s growth.”
With the new funding, Opal plans to expand its capabilities, deepen platform integrations, and hire across engineering, product, and customer success teams. The company’s long-term vision is to become the premier financial partner for media and creative agencies, unifying spend management, invoicing, and data-driven optimization for a frictionless back-office experience.
About Opal
Opal is the financial operating system built for agencies, streamlining back-office operations with integrated contract management, invoicing, payments, and cash-flow automation. Designed by agency founders for agency founders, Opal eliminates inefficiencies by consolidating essential financial tools into one seamless platform. With its newly introduced Opal Spend card—the first ad spending card purpose-built for businesses—Opal unifies virtual card issuance, spend controls, and automated accounting workflows. Founded in 2024, Opal is on a mission to build the bank of the future for agencies. For more information, visit https://www.getopal.co/.
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