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London-Headquartered Fintech Ondato Picks £3M Funding To Accelerate Growth In The Uk

Oct 27, 2021•almost 4 years ago

Amount Raised

£3 Million

Round Type

seed

London

Description

Lithuanian-founded and London-headquartered fintech startup Ondato is a leading provider of KYC/AML compliance management technology for financial institutions. The compliance-as-a-Service startup Ondato has closed a €3.6 million (nearly £3 million) seed extension round led by OTB Ventures, LitCapital and Startup Wise Guys, bringing the total amount raised by Ondato so far to €5.6 million.

Company Information

Company

Ondato

Location

London, Ontario, Canada

About

The compliance-as-a-Service startup Ondato has closed a €3.6 million (nearly £3 million) seed extension round led by OTB Ventures, LitCapital and Startup Wise Guys, bringing the total amount raised by Ondato so far to €5.6 million. Besides funds, the seed extension sees the addition of experienced institutional investors LitCapital, who will provide strategic support as the startup continues to scale rapidly. The London-headquartered startup moved there after Brexit as it is the best place to be as a fintech startup for various reasons. The company serves over 200 clients in more than 30 countries operating in fintech, banking, insurance, telecommunications, and other related sectors. Founded in 2016, Ondato has developed software enabling banking institutions to onboard new clients and manage other compliance functions.