Onsetto, a Minneapolis fintech that helps financial institutions activate and establish primary operating relationships, raised $2.2 million in funding.
The AI-focused fintech said in a press release that the funding round was led by EJF Ventures, with participation from Idea Fund of La Crosse, The Perch Fund, and angel investors Daren Cotter and Bobby Astrup.
The funding will support 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are under increasing pressure to win the primary banking relationship earlier in the customer lifecycle, but outdated switching processes continue to slow momentum and negatively impact the customer experience,” Cale Johnston, Onsetto’s founder and CEO, said in the release.
“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,” he added.