Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
Iain Niblock, CEO, Orca Money
April 17 2020

Orca Money to wind down

Michael Lloyd Industry News, News, Top 3 FCA, Iain Niblock, Orca Money

Peer-to-peer investment aggregator Orca Money is winding down, blaming regulatory changes and a shift in market sentiment.

Orca started life as a P2P research firm, launched an investment platform in 2018 and an Innovative Finance ISA (IFISA) in 2019 that invests across a range of P2P platforms.

It said “high customer acquisition costs…were unsustainble” and that regulatory changes “made the firm’s retail aggregation structure unfeasible”.

It said after closing its retail arm last October, it attracted some interest from institutions but not enough to sustain the business.

Further attempts to establish a profitable business model were made increasingly difficult due to a
significant shift in market sentiment over the past two years, Orca said.

“For these reasons, the board has taken the deeply disappointing conclusion that the business, in a solvent position, should be wound up,” the firm said.

Read more: Is there a future for P2P investment aggregators?

“It is a deeply disappointing outcome,” said chief executive Iain Niblock (pictured).

“I’d like to personally thank all of our customers and those in the industry who have supported us over the years.”

Funding Circle becomes first approved P2P CBILS lender Emergency loan scheme for larger firms to open on Monday

Related Posts

Rishi Sunak

Industry News, News, Top 3

5 key takeaways for P2P from the Budget

investors clash

Industry News, News, Top 3

Relief and frustration at absence of P2P and fintech in the Budget

Pavel Klema

Global News, Industry News, News, Top 3

Bondster names new chief executive

Popular posts:

  • Chancellor unveils recovery loan scheme
  • The House Crowd goes into administration
  • Budget outlines plans for £15bn of green bonds in 2021
  • Sunak to announce stringent CBILS successor scheme
  • FCA warns The House Crowd investors against using…
  • BBB sets out further details on recovery loan scheme
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by