Summary:
- Ontik, a FinTech platform for B2B wholesalers based in London, raised €3.2m in seed funding.
- The funding round was led by Firstminute Capital, with participation from other investors and angel investors.
- Ontik plans to use the funds to expand its operations and business reach.
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Article:
Ontik Secures €3.2m in Seed Funding for B2B Wholesalers
Ontik, a London-based FinTech platform catering to B2B wholesalers, has successfully raised €3.2m in seed funding. The funding round was spearheaded by Firstminute Capital, with additional contributions from PT1, Illusian, FJ Labs, Seed X, Tiny VC, and notable angel investors including the founders of Slack and Affirm.
With the newly acquired funds, Ontik has outlined plans to enhance its operations and expand its business footprint. Led by Chris Smith, the platform offers a payment operations system designed specifically for B2B wholesalers. This system enables users to efficiently request, track, and collect payments from their trade accounts, ultimately streamlining cash flow optimization and reducing transaction costs. Additionally, Ontik’s platform eliminates the need for manual follow-ups on payments, providing a seamless experience for wholesalers.
Ontik’s integration with popular ERP systems such as Merlin, Unleashed, and Intact further enhances its appeal to merchants. Some of the notable merchants currently benefiting from Ontik’s services include AW Lumb, GH Brooks, and Collier & Catchpole.
Overall, the successful seed funding round marks a significant milestone for Ontik, positioning the company for further growth and innovation in the B2B wholesale FinTech sector.
