Onsetto, a fintech platform designed to help financial institutions capture the core operating account of business customers, announced it has raised $2.2 million in a Series Seed round. The investment was led by EJF Ventures, with participation from Idea Fund of La Crosse, The Perch Fund, and angel investors Daren Cotter and Bobby Astrup. The funding follows a period of strong commercial growth, during which Onsetto signed a double-digit number of financial institutions under contract.
The company's platform automates the traditionally manual and fragmented process of switching business accounts. It enables banks and credit unions to identify core operating account components, facilitate the transfer of payroll and payments, and drive earlier deposit funding and treasury engagement. According to Onsetto, this capability is increasingly critical as financial institutions seek to establish primacy with business customers early in the relationship lifecycle.
“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are under increasing pressure to win the primary banking relationship earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact the customer experience,” said Cale Johnston, Founder and CEO of Onsetto.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.”
The new capital will support product development, particularly Onsetto’s AI-driven capabilities for switching, activation, and treasury identification. Additionally, the company plans to expand sales and marketing efforts to meet rising demand from financial institutions looking for technology-enabled solutions for account switching.
EJF Ventures' investment underscores 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. “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 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. For more information about Onsetto, visit www.onsetto.com.
