London-based fintech Ontik (founded in 2023) is tackling one of the last manual corners of the economy – trade credit for wholesale merchants. Co‑founders Chris and John Smith, both with backgrounds in the trade industry, built Ontik to replace pen‑and‑paper invoicing and chasing with a digital platform. “Payment operations built for B2B wholesalers” is how Ontik markets itself: the platform lets builders’ merchants and other traders send branded payment requests, track accounts, and collect money without filing cabinets or spreadsheets.

A Digital Overhaul for B2B Payments

Ontik’s platform automates the full order-to-cash cycle: from issuing credit terms to generating invoices and proof-of-delivery, and sending branded payment links via email, SMS, or WhatsApp. It tracks real-time engagement, auto-follows overdue invoices, and integrates with ERPs like Merlin, Unleashed, and Intact to simplify reconciliation. Clients report collecting payments 30% faster, spending 60% less time on admin, and reducing card fees by 25%.

“Ontik is doing for trade credit what Stripe did for online payments.”

— Sam Endacott, Partner at Firstminute Capital

Targeting the £100 billion UK building materials market, Ontik delivers modern B2B payment tools to a sector long reliant on manual processes. This focus has resonated with investors: in May 2025, the startup raised a $3.7 million seed round led by Firstminute Capital, with backing from FJ Labs, Tiny VC, PT1, and angels like the founders of Slack and Affirm.

Now scaling fast, Ontik has rolled out to 30+ merchant branches and claims over £1 billion in transaction volume in its pipeline. With 30% month-on-month growth and seamless ERP integration, Ontik is positioning itself as the Stripe of trade credit.

Why Ontik’s Strategy Works

Ontik’s success stems from a combination of factors. The Smith brothers’ prior experience in wholesale (including past startup exits) gives them deep domain insight. The product directly addresses a clear pain point – the headache of manual billing – with simple, tangible benefits for busy finance teams. At the same time, Ontik’s use of AI and automation enables it to deliver measurable ROI (e.g. faster payments and lower fees) that customers and investors can easily understand.

Finally, the startup is benefitting from a broader trend: investors are hungry for “vertical fintech” solutions that modernise offline sectors. Ontik’s positioning as a “Stripe for the real economy” highlights how a clear niche focus and strong execution can lead a fintech to rapid growth even in a crowded market.

Key takeaways for fintech startups:

Ontik’s story offers several practical lessons for founders building in fintech:

• Target underserved, traditional sectors with a clear, urgent pain point
  
  
• Leverage domain expertise to design solutions customers actually adopt
  
  
• Integrate with existing tools (like ERPs) to reduce friction in adoption
  
  
• Show tangible ROI with real numbers (e.g. time saved, faster payments)
  
  
• Build investor trust through clear positioning, strong metrics, and endorsements

Looking to achieve traction in your niche? Your Fintech Story provides strategic support to help fintech startups grow with focus and clarity. Get in touch to learn more.