Omnio closes €30 mn funding round led by GrayBella Capital
By Megha Bhattacharya
Banking-as-a-Service provider Omnio has closed a €30 million funding round led by pan-European venture fund GrayBella Capital. The funding will enable Omnio to pursue its organic Pan-European growth strategy including selected acquisitions in its core markets.
Jörgen Durban said, “I am very excited to join Omnio at this pivotal moment, as Omnio’s international roll-out and public listing plans propel it into a different league. With the company’s strong sales pipeline and an excellent product set, that has been adopted by some of the leading brands in retail and finance, the future is bright for exponential growth. I am proud to be supporting the company on its last mile to the IPO.”
Omnio offers a white-label, scalable service and empowers smaller financial institutions, including credit unions and building societies to compete with their larger, tech-enabled rivals, and large brand-driven corporations (non-banks) to deliver financial and loyalty products as part of their digital ecosystem.
Adrian Cannon, CEO of Omnio, continued, “The success of this funding round underpins Omnio’s ability to deliver its mission and puts it on a path to being a powerful force in the market. This investment allows Omnio to grow quickly towards its goals and is a key stepping-stone to a listing that will provide the resources needed to scale quickly across the whole of Europe.”
Recently, Omnio selected Scottish FinTech AutoRek for its reconciliation solution. AutoRek will be providing the core reconciliation solution, including internal and external reconciliations between Omnio’s payment processors, bank accounts and ledger system. Replacing the operations team’s manual processes on Excel by providing end-to-end automation, AutoRek’s solution will facilitate increased efficiency and control, as well as provide automated reporting and real-time Management Information to ensure the team’s business users and management are provided with quality MI through a variety of dashboards to fulfil their daily activities at the optimal level.
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