Omnio has completed the first close of a private placement, successfully raising €15m, with its latest share issuing as it seeks to increase investments in its sales force and compliance/risk management product. 

Reaching its latest target, the company received substantial interest from new institutional investors, family offices and HNWI across Europe, in particular building a strong investor base in the Nordic region. 

Further boosting its investments within a host of elements of its offering, as well as securing the working capital to finance a pending acquisition, the company has also outlined it intends to increase the total fundraising size up to €25m in January 2020. 

Adrian Cannon, Chief Executive Officer of Omnio, commented: “We are very grateful for the broad support and trust of our new investors at such a pivotal moment for us.

“Omnio is building on ten years of innovation and customer commitment, and now we are ready to accelerate our market expansion and benefit from an opportunity that will shape the future of banking for the next 20 to 30 years. 

“Our 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.

“Backed by the recent support from investors, we at Omnio remain confident that we are in a strong position to continue to deliver our planned strategic business development milestones with a view to a potential IPO of the business.”

Omnio emphasised it remains engaged with the investor community to raise additional capital of up to EUR 10m on similar terms. The process for the second close is expected to be launched in January 2020 with an envisaged close at or around 31 January 2020.