Led · Equity · Feb 2023

Founded in 2018, Omnio is a cloud-driven banking-as-a-service platform that enables financial service providers and consumer brands to build, manage and report on retail financial products using digital software. Its product set includes Sercle for end-to-end credit union banking management and Domec for managing loyalty rewards for consumer brands. The software is deployed by 135 financial institutions and serves 1.5 million end users across credit unions, consumer brands and banking. Omnio has been expanding commercially after striking multiple BaaS deals with clients in the UK and Italy across travel, transport, sports and entertainment sectors. The company is due to merge with Nordiska and Swiss Bankers and will operate under the Nordiska Financial Solutions banner following that deal. Management is pursuing an IPO roadmap for the BaaS business and a public listing is anticipated at some stage this year. Omnio is a Banking-as-a-Service innovator delivering a modular end-to-end banking infrastructure and a new CoBaaS model to manage banking operations and regulatory compliance. Its Sercle credit-union platform serves 135 small financial institutions and more than 1.5 million members, and fintechs such as NIVO and Credit Kudos use Omnio's platform. The company’s solution supports accounts of record through to regulatory reporting, enabling smaller financial institutions and non-regulated enterprises to embed or outsource banking capabilities. Omnio said it will scale its offerings across the UK and Europe. To support that expansion it announced a €30m pre-IPO convertible bond funding round led by GrayBella Capital. Omnio provides a cloud-based digital banking platform (omnio.VISION) and back-office payment and banking solutions for businesses. The company serves more than two million users worldwide on its omnio.VISION platform. Founded in 2018 and based in London, Omnio emphasizes a low-cost, modular, fully cloud-based approach aimed at banks and non-banks. Management said it plans to accelerate market expansion and build on a decade of innovation. Omnio signaled ambitious fundraising plans for 2020, intending to increase total fundraising to €25 million by January. The company will use the latest proceeds to bolster its sales force, compliance and risk management, product optimisation, working capital and to finance a pending acquisition.