For business owners and accountants, managing money is still a time-consuming, costly, and frustrating process. Instead of focusing on running a law firm, construction company, or healthcare provider, they’re stuck chasing overdue invoices, checking bank accounts, and handling other manual tasks.
And even though AI promises to help automate some of these processes, the reality is that the majority of normal businesses are left behind. “It's easy for a very tech-literate person to say, “You can automate everything now”. In reality, that might be true for 1% of people, but it's the 99% that’s left behind,” explains Adfin co-founder Tom Pope.
This is the problem Adfin is solving with its modern payments platform. Now they’ve raised an €8m seed round co-led by Index and Visionaries, bringing total funding to €12.5m to fix business payments for SMBs and build the accounts receivables infrastructure of the future.
To mark the occasion, Tom and co-founder Ciprian Diaconasu sat down with me for a conversation to run through some of their plans for the future.
The company is already handling payments for hundreds of businesses. Now with fresh capital, they’ll focus on refining the product, expanding functionality and integrations, and further investing in AI to remove manual tasks—read more about their plans here.
This means the funds will primarily go towards hiring more software engineers in London and Romania. Having led engineering and commercial teams at Mambu and Tink (acquired by Visa), Tom and Ciprian have already built an impressive team that is attracting world-class talent.
For many businesses, managing money and payments continues to be time-consuming, expensive, and tedious. Adfin plans to transform this experience, saving founders and accountants money and hours. “I think there's going to be a lot of normal businesses that get a huge amount of time back,” says Tom.
Published — Feb. 23, 2025
-
-
