Ontik: The Fintech Revolutionizing B2B Trade Credit Automation
May 21, 2025, 3:32 pm
In the bustling world of B2B trade, where transactions flow like a river, Ontik is the dam that holds back inefficiency. This London-based fintech has recently secured $3.7 million in a Seed round, led by Firstminute Capital. The funding will fuel its mission to automate trade credit processes for wholesalers, particularly in the UK building materials sector—a market worth a staggering £100 billion.
The founders, Chris and John Smith, are not just entrepreneurs; they are brothers with a shared vision. Their previous venture, Lendflo, an automated SME lending platform, laid the groundwork for their current endeavor. They know the terrain well. Their family background in the construction business exposed them to the friction that comes with managing trade credit. Now, they aim to smooth those rough edges.
Ontik's software is like a well-oiled machine. It automates the order-to-cash cycle, handling everything from issuing credit terms to chasing payments. The platform is powered by AI, which can cut the time spent on payment follow-ups by over 60%. Imagine the hours saved—time that can be redirected to growth and innovation. Cash collection speeds up by more than 30%, and card fees drop by 25%. Disputes? They become a rarity.
The integration with popular ERP systems like Merlin, Unleashed, and Intact is a game-changer. It allows for quick deployment across multi-branch wholesalers without disrupting existing operations. In industries like construction, where administrative teams are often stretched thin, this seamless integration is a breath of fresh air. It’s like giving a tired runner a second wind.
The investment landscape is shifting. Investors are increasingly interested in vertical fintech solutions that modernize the offline economy. Ontik is at the forefront of this trend. The startup has already made strides, launching in 30 branches with notable merchants such as GH Brooks and AW Lumb. The appetite for innovation in trade credit is palpable, and Ontik is serving up a feast.
The brothers’ dual expertise—operational knowledge from the construction sector and technical prowess in fintech—sets them apart. They understand the pain points of their target market intimately. This isn’t just another tech solution; it’s a lifeline for businesses struggling with outdated processes. Ontik is doing for trade credit what Stripe did for online payments. It’s about time the B2B sector caught up with the digital age.
The construction materials sector is ripe for disruption. With tight margins and high transaction volumes, the need for efficiency is critical. Ontik’s approach is pragmatic. They’ve chosen to start with a low-friction, high-impact product that integrates smoothly with existing systems. This strategy positions them as a foundational layer in their customers' financial stack.
The potential for growth is enormous. As more businesses recognize the benefits of automation, Ontik stands ready to lead the charge. The fintech landscape is evolving, and Ontik is a key player in this transformation. Their commitment to operational efficiency and customer satisfaction is unwavering.
Looking ahead, Ontik is poised for expansion. The funding will enable them to enhance their platform further and reach more customers. The goal is clear: to become the go-to solution for trade credit automation in the B2B sector. The brothers are not just building a company; they are crafting a legacy.
In a world where every second counts, Ontik is the clock that keeps time. They are redefining how businesses manage credit, making it faster, smarter, and more efficient. The future of B2B trade credit is bright, and Ontik is leading the way.
As the fintech landscape continues to evolve, Ontik’s innovative approach could serve as a blueprint for others. The combination of technology and industry knowledge is a powerful force. It’s a reminder that sometimes, the best solutions come from those who have walked the path themselves.
In conclusion, Ontik is not just another fintech startup. It’s a beacon of hope for B2B wholesalers trapped in a web of manual processes. With their recent funding, the Smith brothers are ready to scale new heights. They are not just changing the game; they are rewriting the rules. The future of trade credit automation is here, and it’s powered by Ontik.
The founders, Chris and John Smith, are not just entrepreneurs; they are brothers with a shared vision. Their previous venture, Lendflo, an automated SME lending platform, laid the groundwork for their current endeavor. They know the terrain well. Their family background in the construction business exposed them to the friction that comes with managing trade credit. Now, they aim to smooth those rough edges.
Ontik's software is like a well-oiled machine. It automates the order-to-cash cycle, handling everything from issuing credit terms to chasing payments. The platform is powered by AI, which can cut the time spent on payment follow-ups by over 60%. Imagine the hours saved—time that can be redirected to growth and innovation. Cash collection speeds up by more than 30%, and card fees drop by 25%. Disputes? They become a rarity.
The integration with popular ERP systems like Merlin, Unleashed, and Intact is a game-changer. It allows for quick deployment across multi-branch wholesalers without disrupting existing operations. In industries like construction, where administrative teams are often stretched thin, this seamless integration is a breath of fresh air. It’s like giving a tired runner a second wind.
The investment landscape is shifting. Investors are increasingly interested in vertical fintech solutions that modernize the offline economy. Ontik is at the forefront of this trend. The startup has already made strides, launching in 30 branches with notable merchants such as GH Brooks and AW Lumb. The appetite for innovation in trade credit is palpable, and Ontik is serving up a feast.
The brothers’ dual expertise—operational knowledge from the construction sector and technical prowess in fintech—sets them apart. They understand the pain points of their target market intimately. This isn’t just another tech solution; it’s a lifeline for businesses struggling with outdated processes. Ontik is doing for trade credit what Stripe did for online payments. It’s about time the B2B sector caught up with the digital age.
The construction materials sector is ripe for disruption. With tight margins and high transaction volumes, the need for efficiency is critical. Ontik’s approach is pragmatic. They’ve chosen to start with a low-friction, high-impact product that integrates smoothly with existing systems. This strategy positions them as a foundational layer in their customers' financial stack.
The potential for growth is enormous. As more businesses recognize the benefits of automation, Ontik stands ready to lead the charge. The fintech landscape is evolving, and Ontik is a key player in this transformation. Their commitment to operational efficiency and customer satisfaction is unwavering.
Looking ahead, Ontik is poised for expansion. The funding will enable them to enhance their platform further and reach more customers. The goal is clear: to become the go-to solution for trade credit automation in the B2B sector. The brothers are not just building a company; they are crafting a legacy.
In a world where every second counts, Ontik is the clock that keeps time. They are redefining how businesses manage credit, making it faster, smarter, and more efficient. The future of B2B trade credit is bright, and Ontik is leading the way.
As the fintech landscape continues to evolve, Ontik’s innovative approach could serve as a blueprint for others. The combination of technology and industry knowledge is a powerful force. It’s a reminder that sometimes, the best solutions come from those who have walked the path themselves.
In conclusion, Ontik is not just another fintech startup. It’s a beacon of hope for B2B wholesalers trapped in a web of manual processes. With their recent funding, the Smith brothers are ready to scale new heights. They are not just changing the game; they are rewriting the rules. The future of trade credit automation is here, and it’s powered by Ontik.