Onsetto, a fintech platform designed to help financial institutions capture core operating accounts and establish primacy with business customers, 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. This funding follows a strong quarter of commercial momentum 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.
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are under increasing pressure to win the primary banking relationship earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact the customer experience, according to Cale Johnston, Founder and CEO of Onsetto.
This funding allows Onsetto to deepen its product capabilities while scaling its 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. Onsetto is solving a meaningful problem for financial institutions by modernizing how business accounts are activated and funded, said Jonathan Bresler, Managing Partner at EJF Ventures. The firm is excited to support the team as they continue to build a platform that strengthens core operating relationships and delivers measurable impact for banks and credit unions.
As business deposits increasingly drive balance sheet growth, Onsetto is positioned to help financial institutions improve onboarding outcomes, shorten time-to-funding, and uncover treasury opportunities earlier in the lifecycle. The platform’s white-label, AI-enabled approach helps financial institutions activate and establish primary operating relationships by identifying core operating account components and intelligently guiding businesses through payroll, AR/AP, and operating flow transitions. For more information, visit https://www.onsetto.com.
