What does Ontik do?
Ontik provides a payment operations platform that helps B2B wholesalers request, track, and collect payments from their trade accounts. The system integrates with popular ERP systems like Merlin, Unleashed, and Intact and is designed to optimize cash flow, reduce transaction costs, and eliminate the need for manual payment chasing.
How much did they raise?
The funding round amounted to €3.2M in Seed funding, led by Firstminute Capital with participation from PT1, Illusian, FJ Labs, Seed X, Tiny VC, and angels including the founders of Slack and Affirm.
What are their plans for the money?
Ontik plans to use the funds to expand its operations and business reach, which could lead to improved efficiency and streamlined payment processes for wholesalers.
What have they achieved so far?
The company has already demonstrated its effectiveness by serving prominent merchants such as AW Lumb, GH Brooks, and Collier & Catchpole, and by successfully integrating with established ERP systems.
