Orca Money has successfully raised £280,000 seed investment from TechStart NI and private investors. The funds will be used to build on the company’s peer-to-peer lending focused financial media site, ‘Orca Retail’, which was launched in early 2016.
The alternative finance market has continued to show strong growth in the UK, with the Peer-to-peer lending market growing to £3.13bn in 2016. With so many different platforms available, Orca Money makes it easy for investors to analyse the various deals offered and allow them to make better decisions.
The company, founded by Iain Niblock and Jordan Stodart was incorporated in 2015, as the pair joined the tech accelerator Start Planet NI based in Belfast. It was here where Orca Money grew and caught the eye of Venture Capitalist firm, TechStart NI, who led the seed round.
Iain Niblock CEO said “Peer-to-peer offers investors higher, more stable returns. It’s an asset class knocking on the door of being mainstream, with massive growth potential through the Innovative Finance ISA. We’re excited to be developing tools to help investors and IFAs benefit from P2P and the investment in our business will help us to continue to grow.”
Colman Equity made a seed stage investment into Orca Money in 2015.