The money will be used for a planned merger with Swiss Bankers and Nordiska.
Platform for Banking as a Service (BaaS) Omnio has taken in €9 million in equity.
The round, which is happening before the planned merger between Nordiska and Swiss Bankers, will still be open to some investors as it tries to raise another €3 million.
The cloud-based BaaS platform for banks and corporations is based in London. It says it serves 135 financial institutions, has more than 2 million end users, and processes £3 billion in funds.
It says that its goal is to “create long-lasting connections between brand and customer.” Within the next 12 months, it plans to list its shares “on a recognized stock exchange.”
“This fundraise will secure the working capital for Omnio to complete some exciting strategic plans, which include the imminent merger with Nordiska and Swiss Bankers as well as a listing this year,” Omnio chairman Jörgen Durban said.
“Embedded finance is one of the most significant trends we have seen in consumer finance as it provides financial products where they are most needed, as part of the consumer journeys of the leading brands.”
This round, Opentech, a company that makes full-stack solutions for financial institutions in Italy, Switzerland, and Austria, became a new investor in Omnio.
After the fund raise, Stefano Andreani, the founder of Opentech, will join the company’s board and executive team.
He said that the company is building, an excellent embedded finance platform. It will make it easy for retailers and banks to plug Financial Services into their digital channels.
