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 it signed a double-digit number of financial institutions under contract. This underscores growing demand from banks and credit unions seeking technology-enabled solutions for business account switching, a historically manual and fragmented process. Onsetto's platform automates this process, enabling institutions to identify core operating account components, move payroll and payments faster, and drive earlier deposit funding and treasury engagement.
Financial institutions face increasing pressure to secure primary banking relationships earlier in the customer lifecycle, yet outdated switching processes often slow momentum and negatively impact customer experience. "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," said Cale Johnston, Founder and CEO of Onsetto.
The new capital 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. 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. For more information about the company's platform, visit https://www.onsetto.com.
EJF Ventures' 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. "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."
The importance of this development lies in its potential to transform how financial institutions onboard business clients, a critical function for deposit acquisition and customer retention. By automating and accelerating account switching, Onsetto addresses a significant pain point that has hindered banks' ability to establish primary relationships quickly. This matters because business deposits are crucial for institutional stability and growth, and inefficient onboarding can lead to lost revenue and customer dissatisfaction. The funding enables Onsetto to scale its solution, potentially increasing operational efficiency across the banking sector and improving the experience for businesses transitioning between financial providers.
