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Ontik develops a specialized trade credit management platform, providing software purpose-built for automating credit and collections within the B2B wholesale sector. Its core functionality is designed to streamline payment processes and financial workflows, effectively reducing credit risk and associated operational costs for businesses. The platform digitalizes traditionally manual tasks, offering a modern solution to complex trade credit operations.
The company was founded in 2023 by brothers Chris Smith, who serves as CEO, and John Smith, the CPO. Their combined experience in the trade industry illuminated a significant market gap and the need for a sophisticated solution to replace outdated, pen-and-paper methods of invoicing and debt collection. This insight led them to build Ontik, focusing on creating robust infrastructure for automated payments and credit management.
Ontik primarily serves wholesalers and businesses operating in the B2B wholesale environment, offering tools that enhance financial efficiency and operational clarity. The company’s vision is to establish critical infrastructure for payments and automated workflows, enabling a more efficient and less risky financial ecosystem for its clients. It aims to empower businesses to manage their credit and collections with unprecedented precision and automation.
Ontik has raised $4.0M across 1 funding round.
Ontik has raised $4.0M in total across 1 funding round.
Ontik Technology is a global software consulting, development, and outsourcing company founded in 2016, specializing in custom digital solutions for businesses worldwide.[1][2][3] It builds scalable products including web and mobile apps, AI/ML strategies, UI/UX designs, business intelligence tools, ERP systems, and cybersecurity services, serving startups to large enterprises across more than 20 countries from offices in Bangladesh, USA, Canada, and Australia.[1][2][3] The company solves challenges in product development and modernization by offering flexible models like dedicated tech teams, with a focus on innovation, transparency, and growth—evidenced by projects boosting client engagement by 58% and conversions by 36%.[1][4]
Ontik Technology was established in 2016 in Dhaka, Bangladesh, as a software consulting and outsourcing agency emphasizing creativity, teamwork, and innovation.[2][3][5] Key details on specific founders are not publicly detailed in available sources, but the company has grown into a team of 28 employees headquartered at House #32/A, Road Fl 3 02 D2, Jigatala TSO, Dhaka, with a global footprint.[2] Early traction includes a product selected for Stanford Seed Spark's 2022 Cohort 05 and reaching top 100 finalist in the 2024 AI For Impact challenge by Hack2Skill and Google Cloud, highlighting its pivot toward AI-driven innovation.[3]
Ontik rides the wave of digital transformation and AI adoption, providing outsourcing from cost-effective hubs like Bangladesh to serve global clients amid rising demand for scalable tech amid talent shortages.[1][2][3] Timing aligns with post-2020 acceleration in remote development and AI tools, where businesses seek flexible partners for innovation without heavy in-house costs—market forces like cloud growth (e.g., Google Cloud partnerships) and enterprise digitization favor its model.[3][4] It influences the ecosystem by empowering startups via programs like Stanford Seed and delivering enterprise-grade solutions, bridging emerging markets with Western demand.[3]
Ontik is poised for expansion in AI and custom software amid booming outsourcing markets, potentially scaling revenue beyond $16.6M through more Clutch-verified projects and global offices.[2][4] Trends like generative AI integration and hybrid work will shape its trajectory, amplifying demand for its revamp services and dedicated teams. Its influence may evolve from regional player to key innovator, as seen in recent award momentum, solidifying its role in powering accessible digital growth for businesses worldwide—transforming visions into robust realities, just as it promises.[1][3]
Ontik has raised $4.0M in total across 1 funding round.
Ontik's investors include Firstminute Capital, BlackWood Ventures, Founder Collective, Giant Ventures, Biz Stone, Jeremy Cai, Miki Kuusi, Tom Blomfield, FJ Labs, Illusian, PropTech1 Ventures, Seed X.
Ontik has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in May 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2025 | $4M Seed | Firstminute Capital | Blackwood Ventures, Founder Collective, Giant Ventures, BIZ Stone, Jeremy CAI, Miki Kuusi, TOM Blomfield, FJ Labs, Illusian, PropTech1 Ventures, Seed X, Tiny VC | Announced |
