Ondato Raises €3.6M in seed Extension; Brings Seed Total To €5.6M
Summary
The round was also led by OTB Ventures and Startup Wise Guys, bringing the total amount raised by Ondato so far to €5.6M. Šarūnas Šiugžda, Founder and Managing Partner at LitCapital, is also joining Ondato as a Board Member. The company intends to use the funds to further focus on product development and customer acquisition in Europe and the US ahead of a planned Series A in early 2022, and expand the team with a focus on supporting new market expansion, product development and operations. Led by Liudas Kanapienis, co-founder and CEO, Ondato provides a multi-functional compliance management suite designed specifically for financial institutions, offering integrated solutions for identity verification, data monitoring, screening, due diligence, risk scoring, and case management, all under a single software as a service (SaaS) model. Founded in 2016, the company serves over 200 clients in more than 30 countries operating in fintech, banking, insurance, telecommunications, and other related sectors.
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