Orca hits crowdfunding target

ORCA has hit its fundraising target of £500,000 after opening up its Seedrs crowdfunding campaign to the public.

The peer-to-peer analysis and investment firm launched a private Seedrs fundraising last month for existing customers. It extended the campaign to the wider public on Monday, by which time it had already raised more than £330,000.

The campaign is trending first place on the equity crowdfunding platform, having received a total of £511,980 from 261 investors.

Orca, which lets people invest across multiple P2P platforms from £1,000, plans to use the funds to grow its customer base, integrate with more lenders, enhance its product features and expand into Europe.

Iain Niblock, chief executive of Orca, has claimed aggregation “is the next logical step for alternative lending”.

Orca launched its investment platform in March and currently offers access to five lenders: Assetz Capital, Lending Works, Landbay, Octopus Choice and Lending Crowd.

Read more: Orca to unveil diversified P2P portfolios for investors