Omnio lands €15m in private placement
Omnio raises EUR 15m, with another EUR 10m to come
Omnio, a provider of cloud-based, Platform-as-a-Service (PaaS) tech, has announced its first close of a private placement. The company raised gross proceeds of €15 million by issuing 23,077 shares at a subscription price of €650 per offer share.
Omnio claims it “received substantial interest from new institutional investors, family offices and HNWI across Europe, in particular building a strong investor base in the Nordic region”. It now plans to increase the total fundraising amount up to €25 million this January.
The company is eyeing an IPO in due course.
The money will be used to invest in the company’s sales force, compliance/risk management, product (platform) enhancements and working capital, it explains. Also, it will help finance a pending acquisition.
Omnio offers an end-to-end PaaS solution to banks and non-banking institutions under a long-term subscription model with guaranteed minimums. Its stronghold is the UK, Ireland, Italy and the DACH countries. It emphasises that it “is uniquely positioned to benefit from the emerging non-banking market due to first-mover advantage”.
Adrian Cannon, CEO of Omnio, states the company’s “low-cost, modular, and fully cloud-based digital banking platform is proving to be the key ingredient for banks and non-banks catering to their customers for an improved and more engaged financial services offering”.
Omnio was created in 2018 as a result of a merger of Payment Cloud Technologies and Tuxedo Money Solutions. It is registered in London and Luxembourg.
