Vancouver-based fintech startup Opal has raised $1.5 million in pre-seed funding to bring modern financial tools to digital agencies, streamlining ad spend, payments, and cash flow management.
The round was led by Founders Co-op, with participation from Exit North Ventures and fintech veteran Ian Crosby (former Bench Accounting CEO). The investment will accelerate Opal’s product development, particularly the launch of Opal Spend, a first-of-its-kind ad-spend platform integrating payments, invoicing, and financial automation.
Founded in 2024 by Alex Steele, Opal was born out of the inefficiencies Steele encountered running Easy Agency, a media buying firm. Traditional banking and accounting tools failed to address the unique financial workflows of agencies managing client ad budgets. Opal replaces fragmented payment systems with a unified fintech solution that automates contract management, invoicing, spend tracking, and payments.
At the core of Opal’s innovation is the Opal Spend card, a virtual ad-spending card built specifically for agencies. Unlike traditional credit lines, it draws funds directly from client accounts, mitigating financial risk while still offering cashback incentives. The platform also automates real-time card updates across major ad platforms like Meta, Google, Apple, and Amazon, ensuring uninterrupted campaigns.
“Opal is building the Shopify for agencies,” says Steele. “We’re eliminating friction in financial workflows by centralizing payments, invoicing, and attribution in one seamless platform.”
Since launch, Opal has grown 400% and recruited top fintech talent, including former engineers from X (formerly Twitter). With fresh funding, the company plans to expand its team, deepen fintech integrations, and position itself as the go-to financial platform for the digital agency ecosystem.
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