MINNEAPOLIS, MN - April 28, 2026 (NEWMEDIAWIRE) - Onsetto, a fintech platform helping financial institutions win and activate business banking relationships, today announced it has raised $9 million in Seed II funding led by Canapi Ventures, with participation from existing investors including EJF Ventures, Idea Fund of La Crosse, and The Perch Fund.

Over the past decade, banks have made significant investments in digital account opening, making it easier than ever for businesses to open new accounts. However, opening an account is not the same as winning the relationship. Across the industry, financial institutions acquire new business accounts every day, yet many never become the customer’s primary operating account. Payroll often remains with the incumbent bank, while receivables and payables continue to flow through existing systems, leaving new accounts underutilized or secondary.

Moving a commercial banking relationship is complex. Businesses must update payroll providers, accounts receivable systems, vendor platforms, and internal workflows, often across dozens of disconnected systems. The process can take months and frequently results in incomplete transitions, preventing financial institutions from fully capturing the relationship.

Onsetto addresses this challenge through a model it calls structured activation, a guided and coordinated process for moving a business’s payroll, receivables, payables, and operating activity into a new financial institution at the moment of onboarding. By identifying dependencies across a business’s financial systems and generating a structured transition plan, the platform enables banks to guide customers through the switching process with greater clarity, speed, and completion rates.

“Business banking growth is not determined by accounts opened. It is determined by how quickly operating activity moves,” said Cale Johnston, Founder and CEO of Onsetto. “Onsetto removes the friction from switching, giving banks a clear and structured way to help businesses transition and begin operating from their new account with confidence.”

Rather than relying on manual processes and prolonged follow-up, Onsetto leverages advances in AI-driven workflow automation to help execute the transition of financial activity across systems. Tasks that previously required significant manual effort can now be coordinated more efficiently, reducing timelines and increasing the likelihood that a new account becomes the business’s primary operating account.

“At Canapi, we work closely with financial institutions and see firsthand how difficult it is to capture the primary operating relationship,” said Neil Underwood, Co-Founder and General Partner at Canapi Ventures. “Banks have built strong systems to acquire accounts, but they have not built the infrastructure required to activate them. Onsetto addresses this gap directly, and we believe their approach will become an important part of how banks compete for and grow business relationships.”

Onsetto is led by Founder and CEO Cale Johnston, who previously founded ClickSWITCH, a leading consumer account switching platform that scaled to hundreds of financial institutions before being acquired by Q2 Holdings. With Onsetto, Johnston is applying that experience to the more complex challenge of commercial banking relationships, where activation and primacy define long-term success.

The new funding will be used to expand Onsetto’s platform capabilities, grow its team, and accelerate adoption among financial institutions nationwide.

About Onsetto

Onsetto helps financial institutions win and activate business banking relationships by guiding the transition of payroll, receivables, payables, and operating activity into new accounts. By removing the friction from switching, Onsetto enables banks to establish primary relationships faster and drive sustainable deposit growth. The platform is designed to be fast to implement and does not require core or digital banking integration. Learn more at www.onsetto.com.

About Canapi Ventures

Canapi is a financial technology venture platform investing in early- to growth-stage companies offering disruptive alternatives to outdated business models and technologies. Backed by the Canapi Alliance - a network of nearly 70 leading financial institutions across the United States - Canapi brings deep sector expertise, strong industry connections, and operational insight to help founders scale.

Contact:
Lindsey Johnston
lindsey@onsetto.com

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