North Wales fintech Collections Cloud secures over 60% of £500,000 seed round
North Wales-based fintech startup Collections Cloud has announced that it has secured over 60% of its current £500,000 seed funding round, combining angel investment with Development Bank of Wales match funding as the business prepares to close the remainder of the raise.
The funding marks another significant milestone for the fast-growing company, which is tackling one of the UK’s biggest challenges for small businesses: the £23 billion late payment problem affecting SMEs.
Collections Cloud has developed an all-in-one accounts receivable, credit control and debt recovery platform that combines automation, AI-driven decision-making, legal workflows and payment technology to help businesses recover unpaid invoices faster while reducing costs and administration.
The platform has been built specifically for SMEs, an underserved market that has traditionally relied on expensive debt collection agencies or basic accounting software reminders.
The business has already begun generating strong commercial momentum. Early customers are actively using the platform, with real-world feedback helping to shape and strengthen the product ahead of a wider-scale rollout.
Rather than building in isolation, Collections Cloud has focused on developing a solution driven directly by customer needs and operational experience.
Supporting this next phase of growth, the company has recently appointed Lewis Jackson as Commercial Director, strengthening its sales capability and expanding its commercial pipeline as demand continues to increase.
Steve Jones, Founder and CEO of Collections Cloud, said:
“This investment milestone is another huge vote of confidence in what we’re building. We’ve focused on creating a platform that genuinely solves a real problem for SMEs, and it’s fantastic to see both investors and customers recognising that opportunity.
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“The feedback we’ve received from early users has been invaluable and has helped us build an even stronger product. With our commercial team now growing and our sales pipeline continuing to build, we’re excited about the next stage of our journey.”
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Collections Cloud continues to work closely with customers, partners and industry organisations as it develops what it believes will become the UK’s leading technology platform for SME credit control and debt recovery.
The business is also progressing strategic partnerships and product development that will further strengthen its position within the UK fintech ecosystem.
The current investment round remains open as the company looks to complete the final stage of its raise ahead of its next phase of commercial expansion.
To learn more, visit the Collections Cloud website or follow Collections Cloud on LinkedIn.