Onsetto Raises $2.2M to Revolutionize Business Banking Onboarding

Onsetto, a fintech platform specifically designed to help banks and credit unions capture and activate core business banking relationships, has successfully secured $2.2 million in a funding round led by EJF Ventures. The investment saw participation from the Idea Fund of La Crosse, The Perch Fund, and Minneapolis-based angel investors Daren Cotter and Bobby Astrup. This financial boost follows a strong quarter of commercial momentum for the company, marked by signing a double-digit number of financial institutions to contracts, highlighting the growing demand for technology-enabled solutions to streamline the historically cumbersome process of business account switching.

The core mission of Onsetto's platform is to automate the fragmented and manual process of switching business accounts, enabling financial institutions to identify key components of a core operating account, move payroll and payments more efficiently, and drive earlier deposit funding and treasury engagement. Founder and CEO Cale Johnston emphasized that financial institutions face increasing pressure to secure primary banking relationships early in the customer lifecycle, but outdated switching processes hinder momentum and degrade customer experience. The new funding will be channeled into enhancing product development, particularly the company's AI-driven capabilities for switching, activation, and treasury identification, alongside expanding sales and marketing efforts to meet rising institutional demand.

Jonathan Bresler, Managing Partner at EJF Ventures, noted that Onsetto is addressing a significant problem by modernizing how business accounts are activated and funded, reflecting a broader interest in solutions that support deposit growth and operational efficiency in business banking. As business deposits become increasingly vital for balance sheet growth, Onsetto is strategically positioned to help financial institutions improve onboarding outcomes, shorten the time-to-funding, and uncover treasury opportunities earlier. The platform operates as a white-label, AI-enabled solution that intelligently guides businesses through transitions in payroll, accounts receivable/payable, and operating flows, ultimately helping banks and credit unions accelerate funding, establish primacy, and expand treasury engagement. For more information, stakeholders can visit the company's website via NEWMEDIAWIRE.