Onsetto, a fintech platform designed to help financial institutions capture the core operating account of business customers, announced a $2.2 million Series Seed funding round led by EJF Ventures. The round also included participation from Idea Fund of La Crosse, The Perch Fund, and Minneapolis-based angel investors Daren Cotter and Bobby Astrup.
The funding follows a strong quarter of commercial momentum, during which Onsetto signed a double-digit number of financial institutions under contract. This underscores growing demand from banks and credit unions seeking a technology-enabled solution for account switching, a process that remains historically manual and fragmented.
Onsetto’s platform automates business account switching, enabling financial institutions to identify core operating account components, move payroll and payments faster, and drive earlier deposit funding and treasury engagement. The new funding will support continued investment in product development, including AI-driven capabilities for switching, activation, and treasury identification, along with expanded sales and marketing efforts.
“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are under increasing pressure to win the primary banking relationship earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact the customer experience,” said Cale Johnston, Founder and CEO of Onsetto.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.”
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.”
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, visit Onsetto's website.
