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South Africa-based Orca Fraud has raised $2.35 million in seed funding to advance its real-time transaction monitoring and fraud intelligence capabilities across Africa and other emerging markets.
The round was led by returning investor Norrsken22, with participation from OneDayYes, Enza Capital, and CV VC Africa.
Founded by Thalia Pillay and Carla Wilby, the company has grown to process over $5 billion in monthly transaction volume across more than 70 countries, working with major banks, telcos and payment providers across Africa. The duo raised their oversubscribed seed round after 16 months, driven by rapidly growing enterprise demand.
“Since our initial investment, Orca has evolved into critical infrastructure that enterprises increasingly rely on to manage fraud in high-velocity payment systems. As digital payments accelerate and fraud becomes more organised and technology-driven, institutions need intelligence embedded directly into transaction flows to protect customers without slowing payments,” said Nivesh Pather, principal at Norrsken22.
“Combatting fraud in Africa is no longer just a backend requirement; it is fundamental in an increasingly connected world. By reimagining anti-fraud solutions from the ground up, for a mobile first market, this team is solving one of the most meaningful problems of our continent,” added Sir John Lazar, general partner at Enza Capital.
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