UK-based BaaS platform Omnio has announced the raise of its funding round of EUR 9 million in equity, as a planned integration with Nordiska and Swiss Bankers. The cloud-based platform for banks, companies, and corporates will invest the sum received in 135 financial institutions.

These will include more than 2 million end users, while GBP 3 billion in funds will be processed on the platform. Within the next 12 months, Omnio aims to list its shares on a recognised and safe stock exchange, focusing on improving the connection between merchants, businesses, and brands with their customers. Following this raise, Omnio is joined by Opentech, a fintech that works with organisations in Italy, Switzerland, and Austria to provide them with its solutions and services, especially with its ability to develop full-stack products for financial institutions and banks.

Opentech will join this round as an investor, alongside the other companies. Omnio also plans to invest in its embedded finance platform, which will allow plugging-in financial services into the digital accounts and channels of retailers, merchants, and banks. As the embedded finance industry grows and becomes a significant trend in customer finance, Omnio aims to keep track of its progression in the industry while providing its clients with efficient and secure services.

Omnio’s development strategy Omnio offers multiple solutions to its users and customers. While enabling them with accounts of record through regulator reports and compliance, the company also supports financial institutions and non-regulated enterprises with its BaaS model. Designed to manage and control banking operations and regulations, Omnio’s BaaS services focus on the safety and privacy of their customers as well.

While using Omnio’s products, smaller organisations and institutions have the possibility to provide their customers with services that are found in the bigger banks. These include credit unions and building societies, as part of their digital ecosystem. Furthermore, non-banks can deliver solutions embedded in their ecosystem, or divided into parts.

One of the products provided by the company is the OMNICORE. This service acts like an intelligent hug that offers customers an overview of the latest in core banking with payments issuing and processing solutions, while focusing on next generation loyalty services as well. The platform prioritises the aspects of digital banking and frictionless payments.

The Banking-as-a-Service provider announced its previous funding round in March of 2021, when the raise was led by pan-European venture fund GrayBella Capital. The round summed EUR 30 million and it was closed later in the same year, in May. Following this raise, Omnio invested in its services and customer care programs, serving 135 credit unions, with over 1,5 million members and multiple banks and financial institutions across Europe.

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