Onsetto, a fintech platform designed to help financial institutions capture core operating accounts and establish primacy with business customers, has raised $2.2 million in a Series Seed funding round. The investment 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 during which Onsetto signed a double-digit number of financial institutions under contract. This underscores growing demand from banks and credit unions seeking technology-enabled solutions for account switching, particularly as business deposits increasingly drive balance sheet growth.
Financial institutions face increasing pressure to win primary banking relationships earlier in the customer lifecycle, but outdated switching processes often slow momentum and negatively impact customer experience. 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.
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. According to Founder and CEO Cale Johnston, "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. Jonathan Bresler, Managing Partner at EJF Ventures, stated, "Onsetto is solving a meaningful problem for financial institutions by modernizing how business accounts are activated and funded. We're 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 the financial sector continues to evolve, Onsetto is positioned to help institutions improve onboarding outcomes, shorten time-to-funding, and uncover treasury opportunities earlier in the lifecycle. The company's white-label, AI-enabled platform helps financial institutions activate and establish primary operating relationships by identifying core operating account components and intelligently guiding businesses through payroll, accounts receivable/payable, and operating flow transitions. To learn more about their solutions, visit https://www.onsetto.com.
