Ophelos, a, AI technology firm and pending B-corp focused on the debt resolution process in the UK, has raised £5 million in a seed funding round led by AlbionVC.
Contributions were also made by Vast Ventures, an early investor in Coinbase and Tala, regulatory and public policy experts Form Ventures, as well as existing investors Connect Ventures and Fly Ventures. A group of angel investors – including Matt Robinson (Co-Founder, GoCardless & Nested), James Meekings (Co-Founder, Funding Circle), Jonah and Noah Goodhart (Co-Founders, Moat), and more – also participated.
AlbionVC’s fintech investing track recored includes Quantexa and Credit Kudos.
Launched in 2021 by Amon Ghaiumy, Paul Chong and Professor Qingchen Wang, Ophelos’s client list boasts three of the largest energy retailers in the UK, and fintech brands including Yonder, Plend and Butter. A testament to its ethical and tech-driven approach, Ophelos is significantly outperforming traditional debt collection agencies on debt recovery rates, having seen performance improvements of up to 100%.
The seed round will support Ophelos’ ambitious growth plans, as the company looks to rapidly expand its debt resolution automation platform so it can support more companies and people across the UK. It will also enable Ophelos to double the size of its team in the next year. This will include technical and go-to-market roles, from engineering, product, data and machine learning, to marketing, sales and people functions.
