ORCA, the peer-to-peer analysis and investment firm, is exploring plans to launch an Innovative Finance ISA (IFISA).
Founder Jordan Stodart told Peer2Peer Finance News the business is considering whether to offer Orca’s model portfolio within an IFISA.
This would allow it to tap into growing demand for the tax-efficient wrapper.
“We are very conscious that the ISA could bring a whole wave of investors who have not had exposure to P2P before, but it has not happened yet,” Stodart said.
“What we have found is existing P2P investors are transferring their general investment account into the ISA.
“As there is the one IFISA per year rule, it will take a couple of years for experienced P2P investors to build up their IFISA portfolio with different platforms. Our ambition is to have multiple platforms in a single portfolio and to wrap that into an ISA, so they are getting their ISA money spread across different providers,” he added.
His comments follow Orca’s successful crowdfunding campaign via Seedrs. So far, the company has raised £547,000, exceeding its £500,000 target.
Orca plans to use the proceeds to support its growth plans. These involve growing the investor base via partnerships, digital marketing and paid media. For example, Stodart said the business is currently in talks to partner with a number of financial advice firms.
Read more: Orca launches P2P investment platform
Orca also hopes to integrate with new platforms over the coming months – a move it says will increase choice for customers.
The company said plans are afoot to provide customers greater flexibility to personalise their portfolios. Finally, Stodart said Orca has European expansion in its sights.
“In the wider EU market, investors have displayed a clear desire to gain exposure to UK P2P. We are looking into this,” he added.
Read more: Orca launches £500,000 crowdfunding campaign