Ontik Funding News – London Based Ontik Raises $3.7M Fund For B2B Trade Credit Automation

The round was led by Firstminute Capital, with support from PT1, Illusian, FJ Labs, Seed X, Tiny VC, and angel investors including the founders of Slack and Affirm.

Ontik is focusing on industries where manual back-office work is still common. It's starting with the UK building materials sector—a £100 billion market—where tight margins, high transaction volume, and fragmented operations make it ideal for automation.

“B2B wholesalers are the financial engine of the real economy - but most are still managing credit with spreadsheets, phone calls and handwritten notes,” said Chris Smith, co-founder of Ontik. “We’re giving them modern, automated workflows that save hours every day and unlock serious operational efficiency.”

Ontik’s software automates the whole order-to-cash process, including setting credit terms, chasing payments, handling disputes, and syncing with ERP systems.

Their AI platform can cut the time spent chasing payments by over 60%, speed up cash collection by more than 30%, and lower card fees by 25%, while also reducing disputes.

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The startup connects easily with popular ERP systems like Merlin, Unleashed, and Intact, making it quick to use across multi-branch wholesalers without disrupting current operations.

This is especially helpful in industries like construction materials, where admin teams are busy and digital tools haven’t been widely adopted yet.

“Ontik is doing for trade credit what Stripe did for online payments,” said Sam Endacott from Firstminute Capital. “They’re giving real-world businesses the tools to operate with the speed and efficiency of modern tech companies - and the impact is already clear.”

In the past year, Ontik has started working with 30 branches of companies like GH Brooks, AW Lumb, FORT, and Collier & Catchpole.

This funding shows that investors are increasingly interested in fintech solutions that modernize traditional, offline businesses.

About Ontik

Ontik is a London based company founded in 2022 by John Smith. It provides a digital trade credit platform for trade merchants. Ontik offers automation for trade credit in B2B wholesale, helping to replace manual tasks with digital solutions.