London-based fintech startup Omnio has announced closing a private placement, raising €15 million via the issue of 23,077 shares at a rate of €650 per offer share.
Omnio, founded in 2018, specialises in the delivery of banking and payment solutions for business. The fintech startup offers banking-grade financial services through its cloud-based digital platform and back-office services. Omnio already serves more than two million users around the world on its omnio.VISION platform, and the startup wants to grow this number further, providing market-beating financial services to customers, no matter where they are across the globe.
The company has big ambitions for 2020, intending to increase its total fundraising to €25 million by January alone. The funds from the private placement will be used to invest in Omnio’s sales force, compliance/risk management plan, product optimisation, working capital and to finance a pending acquisition.
Adrian Cannon, Chief Executive Officer of Omnio, commented, “We are very grateful for the broad support and trust of our new investors at such a pivotal moment for us. Omnio is building on ten years of innovation and customer commitment, and now we are ready to accelerate our market expansion and benefit from an opportunity that will shape the future of banking for the next 20 to 30 years. Our low-cost, modular, and fully cloud-based digital banking platform is proving to be the key ingredient for banks and non-banks catering to their customers for improved and more engaged financial services offering.”