Opal, a Vancouver, BC, Canada-based SaaS platform designed to automate agency back-office operations, has raised $1.5 million in pre-seed funding.
Investors
The round was led by Founders Co-op, with participation from Exit North Ventures.
Founders Co-op is an early-stage venture capital firm that invests in seed-stage startups. Based in Seattle, Washington, the firm focuses on funding and supporting passionate, high-potential founders-building technology-driven businesses. The firm typically invests in SaaS companies, consumer tech, and enterprise solutions, helping them scale through mentorship, funding, and strategic guidance.
Opal Use of Funds
This investment will fuel the development of Opal Spend, an ad-spend platform. With the new funding, Opal plans to expand its capabilities, deepen platform integrations, and hire across its engineering, product, and customer success teams.
About Opal
Founded in 2024 by Alex Steele, Opal offers a financial operating system built for agencies designed to streamline back-office operations with integrated contract management, invoicing, payments, and cash-flow automation. Its flagship product, Opal Spend, an ad-spend platform built for businesses, unifies virtual card issuance, spend controls, and automated accounting workflows. It eliminates the trade-off between cashback and credit risk by using client funds instead of extending credit. The company is on a mission to build the bank of the future for agencies.
Funding Details
Company: Opal
Raised: $1.5M
Round: Pre-Seed
Funding Date: February 2025
Lead Investor: Founders Co-op
Additional Investor: Exit North Ventures
Company Website: https://www.getopal.co/
Software Category: Financial Operations Automation
Source: https://www.businesswire.com/news/home/20250225531474/en/