Omnio, a Banking-as-a-Service specialist, has closed a EUR30 million funding round led by pan-European venture fund GrayBella Capital.
Omniom a high-growth pre-IPO banking infrastructure leader based in London, will pursue its organic Pan-European growth strategy including selected acquisitions in its core markets.
Omnio offers a white-label, highly scalable service and is the secret ingredient that transforms retail banking. Omnio empowers smaller financial institutions, including credit unions and building societies to compete vigorously with their larger, tech-enabled rivals, and large brand driven corporations (non-banks) to deliver state-of-the art financial and loyalty products as part of their digital ecosystem. This is disrupting legacy retail banks and their infrastructure providers and transforming the way that consumers receive financial services. Omnio achieves this through excellence in true cloud-based, multi-tenant platform capability, with great client support and regulatory expertise.
Omnio currently serves 135 credit unions, with over 1.5 million members and multiple European banks with ambitions to attract millions of account holders over the next three years. Its non-regulated customer portfolio includes leading brand names in travel and retail sectors.
Omnio is working towards a listing in the near term and has appointed Jörgen Durban as Chairman of the Group to spearhead this effort. Durban has an excellent track-record of leading publicly listed companies in Scandinavia, as Chairman of Nordiska Kreditmarknadsaktiebolaget, DDM Holding AG and Haldex. Jörgen is a trained lawyer and was previously a partner at Linklaters.
Durban says: “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”
Adrian Cannon, CEO of Omnio, says: “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.”.