Vancouver-based startup Opal, a SaaS platform streamlining back-office operations for agencies, has secured $1.5 million in pre-seed funding to accelerate its product development.
The funding round was led by Founders Co-op, with participation from Exit North Ventures and serial fintech entrepreneur Ian Crosby. The investment will support the launch of Opal Spend, an ad-spend platform designed to integrate ad spending with accounting, invoicing, and contract management.
Founded in 2024 by Alex Steele, Opal was created to solve billing inefficiencies at Easy Agency, Steele’s media buying firm. The platform replaces fragmented financial tools with a unified system that automates contract management, invoicing, payments, and cash-flow operations.
The newly introduced Opal Spend card is the first ad-spending card purpose-built for agencies, offering virtual card issuance, spend controls, and automated accounting workflows. Unlike traditional credit solutions, Opal Spend eliminates financial risk by drawing funds directly from client accounts while still providing cashback rewards. The system also automatically updates virtual card details across major platforms like Meta, Google, Apple, and Amazon.
“Opal is building the Shopify for agencies,” said Steele. “Agencies shouldn’t have to juggle multiple disconnected tools. With Opal, everything—contracts, invoicing, payments, and attribution—is in one place, reducing friction and improving cash flow.”
Since launch, Opal has grown 400% and attracted top engineering talent, including former X engineers. The company plans to use the new funding to expand its team and deepen product integrations, with the long-term goal of becoming the go-to financial partner for media and creative agencies.
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