Ophelos announced securing a £1.6 million in a pre-seed investment round backed by Connect Ventures and Fly Ventures.

Ophelos, a London, UK-based startup developing a consumer debt management platform enabling people to manage their financial obligations, announced completing a pre-seed funding round of £1.6 million ($2.3M).

The money was raised from investors including Connect Ventures and Fly Ventures. Connect Ventures also had invested in the company in 2020.

Ophelos, founded in 2020 by CEO Amon Ghaiumy (previously Director of EMEA at AI company ASAPP), Paul Chong (previously Head of IBM Watson EMEA) and Prof. Qingchen Wang, a leading AI researcher and professor at the University of Hong Kong, provides consumer refinancing services via a software platform using behavioural science in order to improves financial health for both consumers and businesses. This is done as it provides access to more affordable debt repayment plans and achieve more accurate vulnerability detection, with customers more likely to engage and businesses more likely to recoup overdue debts.

Ophelos is authorised and regulated by the FCA for debt collection activities and counts a leading renewable energy supplier and a challenger broadband company amongst its launch clients. The startup is also registered as a Pending B Corp.