Fintech Omnio raises €12 million ahead of the Nordiska merger
Fintech Omnio raises €12 million ahead of the planned merger with Nordiska and Swiss Bankers. After the merger, the group intends to list its shares on a recognized stock exchange within the next 12 months.
Omnio, a leading innovator in Banking-as-a-Service, has completed a €9 million equity financing. Omnio will keep the round open to selected investors, with a target of a total of 12 million euros. Omnio is a rapidly growing pre-IPO banking infrastructure leader based in London, England.
Omnio builds on its pioneering Banking-as-a-Service offering, including its loyalty platform Domec and its Sercle business, the credit union platform, which serves 135 financial institutions and over 1.5 million of its credit union members, consumer brands and bank customers. The impressive growth continues with significant customer wins recently signed in the travel, transport and sports/entertainment sectors in the UK and Italy.
Omnio supports other financial institutions and non-regulated businesses with its Banking-as-a-Service model, which manages the complexity of offering financial products to leading consumer brands and financial institutions. Omnio delivers a modular end-to-end solution that supports accounting all the way to operations, regulatory reporting and compliance. It means that smaller financial institutions can compete with the big banks, and financial services can be built into customer journeys of leading non-financial brands, allowing customers to shop, obtain financing or be rewarded for their loyalty. This innovation provides FinTech for all and supports diversity in the provision of financial services.
Jörgen Durban, Omnio’s chairman commented on the transaction “this fundraising will secure the working capital for Omnio to complete some exciting strategic plans, which include the impending merger with Nordiska and Swiss Bankers as well as an IPO this year.” More information about the previously announced merger can be found here: https://omnio.global/
He continues: “Embedded finance is one of the most important trends we’ve seen in consumer finance, as it brings financial products where they’re most needed, as part of the consumer journeys of the leading brands. Despite a difficult market environment for fintech fundraising, Omnio managed to demonstrate that it remains a strong competitor in the high-growth space by closing this significant round with commitments from existing investors and Opentech as a new investor. Opentech develops full-stack solutions that are currently being used by financial institutions in Italy, Switzerland and Austria. We welcome Stefano Andreani, Opentech’s founder, who will join Omnio’s board and management team.”
Stefano Andreani declared: “We are building a unique built-in financial platform that will seamlessly allow Financial Services to be plugged into the digital channels of retailers and banks. I am aware of the great responsibility this equity financing entails; I have decided to put my experience as an entrepreneur and software engineer at Omnio’s disposal to do my best to achieve this ambitious yet achievable goal.”
