Onsetto, a fintech platform purpose-built to help financial institutions capture the core operating account and establish primacy with business customers, today announced it has raised $2.2 million in funding. The round was led by EJF Ventures, with participation from Idea Fund of La Crosse, The Perch Fund, and Minneapolis-based angel investors Daren Cotter and Bobby Astrup.
The funding follows a strong quarter of commercial momentum for Onsetto, during which the company signed a double-digit number of financial institutions under contract, underscoring growing demand from banks and credit unions seeking a technology enabled solution for account switching.
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The new funding will support continued investment in product development, including Onsetto’s AI-driven capabilities for switching, activation, and treasury identification, along with expanded sales and marketing efforts to meet rising demand from financial institutions.
Onsetto’s platform automates the historically manual and fragmented process of business account switching, enabling banks and credit unions to identify core operating account components, move payroll and payments faster, and drive earlier deposit funding and treasury engagement.
“Financial institutions are under increasing pressure to win the primary banking relationship earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact the customer experience,” said Cale Johnston, Founder and CEO of Onsetto. “This funding allows us to deepen our product capabilities while scaling our go-to-market efforts so more institutions can turn newly opened business accounts into fully funded, primary operating relationships.”
EJF Venture’s investment reflects growing interest in solutions that support deposit growth and operational efficiency in business banking.
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