Onsetto Secures $2.2 Million in Seed Funding to Modernize Business Account Switching for Financial Institutions

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, underscoring growing demand from banks and credit unions seeking technology-enabled solutions for account switching.

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. 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. 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institutions face increasing pressure to win primary banking relationships earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact customer experience.

Cale Johnston, Founder and CEO of Onsetto, stated that this funding allows the company to deepen product capabilities while scaling go-to-market efforts so more institutions can turn newly opened business accounts into fully funded, primary operating relationships. EJF Venture's investment reflects growing interest in solutions that support deposit growth and operational efficiency in business banking. Jonathan Bresler, Managing Partner at EJF Ventures, noted that Onsetto is solving a meaningful problem for financial institutions by modernizing how business accounts are activated and funded, expressing excitement about supporting the team as they continue building a platform that strengthens core operating relationships and delivers measurable impact.

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. The platform's white-label, AI-enabled approach helps financial institutions activate and establish primary operating relationships by identifying core operating account components and intelligently guiding businesses through payroll, AR/AP, and operating flow transitions. This enables banks and credit unions to accelerate funding, establish primacy, and expand treasury engagement, addressing a critical market need as financial institutions seek competitive advantages in business banking. For more information about Onsetto's platform, visit https://www.onsetto.com.