Onsetto, a Minneapolis fintech that helps financial institutions with business banking relationships, raised $9 million in a funding round led by Canapi Ventures.
The fintech said in a release that other participants included EJF Ventures, Idea Fund of La Crosse, and The Perch Fund.
“Business banking growth is not determined by accounts opened. It is determined by how quickly operating activity moves,” Cale Johnston, Onsetto’s founder and CEO, said in the release. “Onsetto removes the friction from switching, giving banks a clear and structured way to help businesses transition and begin operating from their new account with confidence.”
The funding will be used to expand Onsetto’s platform capabilities, hire, and accelerate client adoption.