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Peer2Peer Finance News | August 24, 2019

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Orca launches £500,000 crowdfunding campaign

Orca launches £500,000 crowdfunding campaign
Marc Shoffman

ORCA has opened its £500,000 crowdfunding campaign to the wider public, as it eyes European expansion for its investment platform.

The peer-to-peer analysis and investment firm launched a private Seedrs fundraising last month for existing customers to help fund its growth plans.

The campaign has now been opened to all investors and has already raised more than £330,000.

Orca’s aggregator platform allows people to invest across multiple P2P platforms from £1,000, accessing a variety of lending sectors and a large number of borrowers rather than opening accounts with individual providers.

Orca said that the funds raised will help it grow its customer base, integrate with more lenders, enhance product features, develop its research and build the product for European expansion.

“We believe that aggregation is the next logical step for alternative lending,” Iain Niblock, chief executive of Orca, said.

“We are concentrating on developing our product to deliver greater value to our customer-base. This includes integrating with more lenders. We’re excited for the road ahead and encourage people to come and join the pod.”

Orca launched its investment platform in March.

Five platforms are currently included on Orca’s platform: business lender Assetz Capital, consumer loans provider Lending Works, buy-to-let mortgage lender Landbay, property lender Octopus Choice and consumer lender Lending Crowd.

Read more: Orca accepted into regulatory sandbox scheme