Onsetto, Inc. has recently secured $2.2 million in a Series Seed funding round led by EJF Ventures, following a period of significant commercial success. This funding aims to enhance Onsetto’s product development and expand its marketing efforts, addressing the increasing demand from financial institutions. Onsetto’s platform automates the traditionally manual process of business account switching, offering banks and credit unions a more efficient way to manage account components, expedite payroll and payments, and improve early deposit funding and treasury engagement.
Cale Johnston, Founder and CEO of Onsetto, highlighted the pressure financial institutions face to secure primary banking relationships earlier in their customer lifecycle. He emphasized that the new funding will help strengthen product capabilities and scale market efforts, enabling institutions to transform newly opened business accounts into primary operating relationships.
EJF Ventures’ investment underscores the growing interest in solutions that enhance deposit growth and operational efficiency. Jonathan Bresler, Managing Partner at EJF Ventures, expressed enthusiasm for supporting Onsetto’s efforts to modernize business account activation and funding, which in turn strengthens core operating relationships for banks and credit unions.
As business deposits become increasingly vital for balance sheet growth, Onsetto is well-positioned to aid financial institutions in improving onboarding processes, reducing time-to-funding, and identifying treasury opportunities earlier in the customer lifecycle.
