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 quarter of significant commercial momentum for the company, during which Onsetto signed a double-digit number of financial institutions under contract. This growth underscores increasing demand from banks and credit unions seeking technology-enabled solutions for business account switching, a process that has traditionally been manual and fragmented.
Onsetto's platform automates the identification of core operating account components, facilitates faster movement of payroll and payments, and drives earlier deposit funding and treasury engagement. According to Founder and CEO Cale Johnston, financial institutions face growing pressure to secure primary banking relationships earlier in the customer lifecycle, but outdated switching processes hinder momentum and negatively impact customer experience.
The new capital will support continued investment in product development, including enhancement of Onsetto's AI-driven capabilities for switching, activation, and treasury identification. Additionally, funds will be allocated to expanded sales and marketing efforts to meet rising institutional demand. Johnston stated that this funding enables the company to deepen product capabilities while scaling go-to-market initiatives, helping more institutions transform newly opened business accounts into fully funded, primary operating relationships.
Jonathan Bresler, Managing Partner at EJF Ventures, noted that Onsetto addresses a meaningful problem for financial institutions by modernizing how business accounts are activated and funded. The investment reflects growing interest in solutions that support deposit growth and operational efficiency in business banking. EJF Ventures is the early-stage fintech platform of EJF Capital, a global alternative asset management firm focused on regulatory event-driven investing within the financial sector.
As business deposits increasingly drive balance sheet growth for financial institutions, Onsetto is positioned to help improve onboarding outcomes, shorten time-to-funding, and uncover treasury opportunities earlier in the customer lifecycle. The platform's white-label, AI-enabled approach allows banks and credit unions to accelerate funding, establish primacy, and expand treasury engagement through intelligent guidance of businesses through payroll, accounts receivable/payable, and operating flow transitions.
The implications of this funding extend beyond Onsetto's immediate growth plans. For financial institutions, the platform represents a potential solution to competitive pressures in business banking, where capturing primary relationships is essential for deposit stability and revenue generation. For the fintech industry, the investment signals continued venture capital interest in bank technology solutions that deliver measurable operational impact. More information about Onsetto's platform is available at https://www.onsetto.com.
