Payment risk specialists Onformonics raises €600k to fund European growth

PAYMENT risk specialists Onformonics has raised €600,000 to fund its European growth plans.

The investment was led by AIB Seed Capital Fund, which is co-managed by Dublin Business Information Centre (BIC), the enterprise development organisation. Additional funding was raised through Enterprise Ireland and private investors.

Onformonics was founded in 2008 by Conor McGoveran and Martin Petrov. It has built a strong customer base in Europe and has plans to expand into the Middle East, Africa and the US by the end of the year.