Adfin banked €16.5M ($18M) in a Series A funding round led by Index Ventures. The London-based fintech focuses on digitising the payment collection cycle for small and medium-sized enterprises (SMEs), with a specific emphasis on professional service providers like accountants and law firms.
The company provides a platform that automates invoicing and payments, moving businesses away from manual bank transfers and paper-based processes. By integrating with existing accounting software, the tool allows firms to collect payments via instant bank transfers and cards, while automatically reconciling transactions to reduce administrative overhead.
According to the firm, professional services often suffer from high rates of late payments due to friction in the settlement process. Adfin targets this bottleneck by offering a checkout-like experience for traditional invoices, aiming to shrink the "lock-up" period where capital is tied up in unpaid bills.
As European SMEs face continued pressure from high interest rates, the demand for vertical fintech tools that improve cash flow visibility and collection speed remains a resilient segment of the B2B software market.
Originally reported by Tech Funding News.