The future of ad-agency finance? Opal lands $1.5m to change the game

Opal, a financial operating system for agencies, has secured $1.5 million in pre-seed funding to advance its mission of automating financial workflows and optimizing ad-spend management. The investment round was led by Founders Co-op, with additional backing from Exit North Ventures, underscoring the growing demand for agency financial tools that reduce inefficiencies and enhance scalability.

The funding will accelerate the development of Opal Spend, an innovative ad-spend management platform that integrates accounting, invoicing, contract management, and spend controls into a unified system. Designed specifically for media buying and creative agencies, Opal Spend eliminates financial bottlenecks by linking advertising budgets directly with financial workflows, reducing risk, and improving cash flow visibility.

How Does Opal Streamline Financial Management for Agencies?

Opal was founded in 2024 by Alex Steele, a former agency owner who experienced firsthand the inefficiencies of fragmented financial systems. Steele launched the platform after struggling with billing complexity, inconsistent payment workflows, and disconnected financial tools at his own media buying agency, Easy Agency. Recognizing a widespread industry problem, he developed Opal as a comprehensive financial operating system tailored to the needs of agencies.

Unlike traditional back-office software that requires agencies to juggle multiple applications, Opal centralizes essential functions into a single, seamless platform. The system integrates contract management, invoicing, payments, and spend automation, enabling agencies to close deals faster, manage cash flow effectively, and focus on creative output rather than administrative tasks.

Since its launch, Opal has experienced rapid growth, scaling by 400% and attracting top engineering talent, including former X engineers, to refine its platform and expand its capabilities.

What Makes Opal Spend a Game-Changer for Ad Agencies?

With the introduction of Opal Spend, Opal is taking financial automation to the next level by directly addressing one of the biggest challenges agencies face—ad-spend management. Traditional ad-spend solutions require agencies to rely on credit, which increases financial exposure and complicates budgeting. Opal Spend eliminates this tradeoff by drawing funds directly from client accounts, allowing agencies to access cashback benefits without assuming credit risk.

The platform offers real-time spend controls, virtual card issuance, and automated accounting workflows, ensuring that ad budgets are managed efficiently. Opal Spend is fully compatible with major advertising platforms, including Meta, Google, Apple, and Amazon, allowing agencies to seamlessly integrate payments and track expenditures without manual intervention.

By consolidating these features, Opal Spend reduces manual data entry, accelerates invoicing, and simplifies financial reporting. This approach not only streamlines ad-spend management but also enables agencies to capture cashback rewards, turning advertising expenses into a new profit source.

How Does Opal Compare to Existing Financial Tools?

The fragmented nature of agency finance often forces businesses to rely on multiple disconnected platforms for contract creation, invoicing, payment processing, and spend tracking. This lack of integration leads to inefficiencies, errors, and time-consuming administrative work.

Alex Steele describes Opal as “the Shopify for agencies,” comparing its role in the agency sector to Shopify’s impact on e-commerce. Just as Shopify provides an all-in-one backend for online sellers, Opal serves as the financial backbone for media and creative agencies, reducing friction across the entire financial workflow.

By integrating all essential financial processes into a single ecosystem, Opal enables agencies to reduce administrative workload by automating contract-to-payment workflows. The platform also allows businesses to gain real-time financial insights with a clear overview of spend, invoicing, and cash flow. Revenue cycles are improved through expedited invoice processing, while financial risk is eliminated by avoiding credit-based ad spending. Steele emphasized that Opal’s goal is to allow agencies to focus on winning clients and delivering services rather than dealing with inefficient financial tools.

What Are Industry Experts Saying About Opal?

The funding round and the launch of Opal Spend have drawn attention from industry leaders who see the platform as a breakthrough in agency financial automation. Ian Crosby, Head of Accounting Products at Mercury, expressed strong support for Opal’s approach, stating that the platform is not just simplifying financial management but fundamentally transforming how agencies and brands handle advertising spend. Crosby noted that Opal’s ability to connect ad budgets directly with financial workflows eliminates inefficiencies that have long plagued the industry.

What’s Next for Opal?

With fresh funding in place, Opal is gearing up for rapid expansion, focusing on product development, platform integrations, and talent acquisition. The company plans to grow its engineering, product, and customer success teams to further refine its financial tools and enhance user experience.

Long-term, Opal aims to become the go-to financial partner for media and creative agencies, providing a fully integrated ecosystem that simplifies financial operations while maximizing profitability and efficiency. As agencies continue to scale, the demand for seamless financial automation will only grow. With its ad-spend management platform, financial operating system, and forward-thinking approach, Opal is well-positioned to reshape the future of agency finance.