Backing Ondato — The Final Piece of the KYC Compliance Puzzle
We are delighted to announce that Ondato — a tech company that streamlines KYC and AML-related processes — is joining the 365.fintech portfolio.
Ondato originates in Lithuania and we are excited to further increase our footprint in the Baltics with a second fintech investment in this quickly evolving region.
The company came to life under the name of Ondato in 2018 to turn compliance into a business benefit. Over the years, Ondato has become a comprehensive KYC&AML operating system for new client onboarding, user base management, intelligence, and reporting that adapts to the customer’s unique characteristics and business needs.
The ultimate goal of Ondato is to create a highly modular end-to-end KYC compliance management suite that ensures real-time compliance during the entire customer life cycle.
We kept the pulse of the company for several years and got to know the CEO and founder Liudas Kanapienis as well as the broader management team, and their outstanding drive to execute.
Ondato has experienced strong and consistent growth since its founding. Currently, the company serves over 300 clients in more than 30 countries operating in fintech, banking, crypto, shared economy, and other industries.
Our backing comes as part of a seed extension round, aiming to get Ondato to a substantial Series A round later this year and we are excited to be joining existing investors including Startup Wise Guys, OTB Ventures and Lit Capital.
365.fintech is a boutique VC focusing on pre-seed & seed fintech in broader CEE & Baltics. We invest in API-first, infrastructural plays in b2b and b2b2c fintech but also do not stray away from more traditional financial services business models and b2b SaaS.
Ondato is a tech company that streamlines KYC and AML-related processes. Ondato provides technological solutions such as digital identity verification, business customer onboarding, data validation, authentication, and more. These provide the highest standard available of KYC online or offline onboarding for all business and customer types orchestrated from a single interface. Ondato is turning compliance into a business benefit for its customers, helping to create a better and safer environment for organizations and individuals.