Orca secures $550K in pre-seed funding to combat financial fraud in emerging markets

Orca, an innovative South African startup dedicated to combating fraud in emerging markets, has triumphantly closed a pre-seed investment round, raising $550,000. This funding round, which surpassed its initial target, was spearheaded by Norrsken22 and saw contributions from First Circle Capital, Musha Ventures, Kara Ventures, as well as from a number of strategic angel investors.

Co-founded in January 2024 by Thalia Pillay and Carla Wilby, Orca’s mission is to supply banks and fintech firms operating in emerging markets with sophisticated yet user-friendly tools designed to prevent fraud. The company’s solutions are crafted to bolster the capabilities of fraud analysts and compliance officers, enabling them to tackle a spectrum of financial threats with greater efficacy.

With the fresh capital at hand, Orca is set to expand its workforce and concentrate its efforts on the development, validation, and enhancement of its fraud prevention and compliance products. While Orca’s initial focus is on serving the South African market, the startup is keen on incorporating customer feedback to fine-tune its solutions continuously.

The successful funding round underscores the pressing demand for effective fraud protection measures in emerging markets, where financial institutions and fintech companies often face distinct and complex challenges. Orca’s dedication to delivering straightforward and potent tools for fraud prevention places the startup at the forefront of efforts to secure the financial infrastructure within these burgeoning markets.