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 seed 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, highlighting growing demand from banks and credit unions seeking technology-enabled solutions for account switching.
Financial institutions face increasing pressure to win primary banking relationships earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact customer experience.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. 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.
"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. The company's approach addresses a significant operational challenge in business banking, where traditional methods have failed to keep pace with institutional needs for efficiency and customer retention.
"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." EJF Ventures' investment reflects growing interest in solutions that support deposit growth and operational efficiency in business banking. The funding round signals broader industry recognition that technology must evolve to meet the complex demands of business account management, particularly as financial institutions compete for lucrative commercial relationships in an increasingly digital landscape. More information about the company's offerings is available at https://www.onsetto.com.
