Ontik Company Profile

Background

Company Overview

Ontik, founded in 2022 and headquartered in London, United Kingdom, is a fintech startup dedicated to automating trade credit processes for B2B wholesalers. The company's mission is to modernize financial infrastructure in sectors traditionally reliant on manual processes, thereby enhancing operational efficiency and reducing credit risk. By focusing on the UK building materials sector—a market valued at approximately £100 billion—Ontik aims to become the "Stripe for the real economy," providing automated solutions that streamline credit and collections for wholesalers.

Key Strategic Focus

Core Objectives and Specialization

Ontik's primary objective is to automate the order-to-cash lifecycle for B2B wholesalers. This includes issuing payment terms, chasing invoices, resolving disputes, and syncing data back into core systems. The company specializes in integrating its platform with major ERP systems such as Merlin, Unleashed, and Intact, enabling rapid deployment across multi-branch operations without disrupting existing workflows. By targeting industries like construction supply, where high transaction volumes and low operating margins prevail, Ontik addresses the pressing need for digital transformation and operational efficiency.

Financials and Funding

Funding History and Investors

Ontik has successfully raised a total of $3.7 million in funding. In May 2025, the company secured a €3.2 million Seed round (approximately $3.7 million), nearly doubling its original €1.7 million target. The round was led by Firstminute Capital, with participation from PT1, Illusian, FJ Labs, Seed X, Tiny VC, and strategic angels, including the founders of Slack and Affirm. The capital is intended to enhance Ontik's platform capabilities, expand its market reach, and further develop its technological infrastructure.

Technological Platform and Innovation

Proprietary Technologies and Methodologies

Ontik's platform leverages advanced credit technology and real-time risk assessment to automate key credit processes. By integrating directly with existing ERP systems, the platform facilitates seamless adoption and minimizes disruption to current operations. The use of AI-driven capabilities enables significant reductions in time spent chasing payments (over 60%), accelerates cash collection by more than 30%, and reduces card fees by 25%. Additionally, the platform contributes to fewer disputes and faster resolutions, thereby enhancing overall operational efficiency.

Leadership Team

Executive Profiles

Chris Smith: Co-Founder and Chief Executive Officer. Chris brings extensive experience in fintech and trade credit solutions, having previously co-founded Lendflo, an automated SME lending platform acquired by Fibr. His background in the construction industry provides valuable insights into the challenges faced by B2B wholesalers.

John Smith: Co-Founder and Chief Product Officer. John's technical expertise in fintech and operations complements the leadership team, contributing to the development and enhancement of Ontik's platform. His prior experience includes co-founding Lendflo alongside Chris.

Competitor Profile

Market Insights and Dynamics

The UK building materials sector, valued at approximately £100 billion, presents significant opportunities for digital transformation. Traditional manual processes in trade credit management are prevalent, creating a demand for automated solutions that enhance efficiency and reduce risk. Ontik's focus on this sector positions it to capitalize on the growing need for modernization in financial workflows.

Competitor Analysis

While specific competitors are not detailed in the available information, Ontik's unique combination of fintech expertise and deep understanding of the construction industry's challenges sets it apart. By offering a platform that integrates seamlessly with existing ERP systems and delivers measurable improvements in cash flow management, Ontik differentiates itself from potential competitors in the market.

Strategic Collaborations and Partnerships

Key Partnerships

Ontik has established partnerships with merchants such as GH Brooks, AW Lumb, FORT, and Collier & Catchpole. These collaborations have facilitated the platform's deployment across over 30 branches, demonstrating its scalability and effectiveness in real-world applications. By working closely with industry players, Ontik continues to refine its solutions to meet the specific needs of B2B wholesalers.

Operational Insights

Competitive Advantages

Ontik's ability to integrate with major ERP systems allows for rapid rollout across multi-branch operations without disrupting existing workflows. This seamless integration, combined with the platform's AI-driven capabilities, provides a distinct competitive advantage by delivering tangible improvements in operational efficiency and financial performance. The company's focus on industries with high transaction volumes and low operating margins further underscores its strategic positioning in the market.

Strategic Opportunities and Future Directions

Roadmap and Expansion Plans

With over €1.1 billion in transaction volume in its pipeline and 30% month-over-month growth, Ontik is poised for continued expansion. The company plans to leverage its recent funding to enhance platform capabilities, expand its customer base, and explore additional sectors that can benefit from trade credit automation. By building on its current strengths and strategic partnerships, Ontik aims to solidify its position as a leader in the fintech space for B2B wholesalers.