Omnio is launching a €30m Pre-IPO Convertible Bond in a funding round led by GrayBella Capital

Omnio, a leading innovator in Banking as a Service, has announced a 30m Euros funding lead by pan-European venture fund GrayBella Capital. Omnio is a fast-growth pre-IPO banking infrastructure leader based in London, England. The company expects to IPO within the next 12 months.

Omnio builds on its pioneering Banking-as-a-Service offering, with the growth of Sercle, its credit union platform that serves 135 small financial institutions and over 1.5 million members of its credit union and bank customers—leading FinTech’s such as NIVO and Credit Kudos trust Omnio’s platform to deliver their products and demonstrates continued confidence in the Omnio business model.

Building on this foundation Omnio can now support other financial institutions and non-regulated enterprises with its new CoBaaS Banking-as-a-Service model, which manages the complexity of ‘banking’ operations and regulation.

Omnio is delivering a modular end-to-end solution that supports the accounts of record all the way through to regulatory reporting and compliance. It means that smaller financial institutions can compete with the big banks, and financial services can be embedded in a comprehensive ecosystem or in parts, as our clients see fit.  This innovation delivers FinTech for all and supports diversity in the supply of financial services.

Richard Kivel, Managing Director at GrayBella Capital, says,  Omnio has secured a significant market position, that will allow it to be a critical player in the Banking as a Service market. The quality of the team, technology and speed of its market roll-out is truly impressive. We are thrilled to be leading this financing.

Adrian Cannon, CEO of Omnio, continues, “Omnio has built the future of services for these banks with its CoBaaS model and lets them offer competitive digital financial services that allow them to compete and grow in their local markets. Our mission is to empower small and mid-sized FI and non-regulated corporates to deliver great digital financial services and this convertible bond issue is an important step in providing Omnio with the resources it needs to scale quickly across the whole of the UK and Europe.”

In the last 12 months, the company has partnered with fintech credit union service providers such as Credit Kudos, CUFA and NIVO. In addition, it has launched its bespoke credit union banking product Vox Money and as a result, the company will be looking to expand its presence in Ireland’s credit union sector.