Orca, a South African startup specializing in fraud prevention for banks and fintechs in emerging markets, has successfully raised a $550,000 pre-seed funding round. The funds will be dedicated to developing straightforward yet effective fraud prevention tools and iterating with customers within South Africa.
Funding and Investors
The oversubscribed funding round was led by Norrsken22, with additional participation from First Circle Capital, Musha Ventures, Kara Ventures, as well as several strategic business angels and close associates.
About Orca
Founded in January 2024 by Thalia Pillay and Carla Wilby, Orca is on a mission to empower fraud analysts and compliance officers with the necessary tools to tackle various types of fraud efficiently. The startup is focused on building, validating, and iterating on their fraud and compliance products to meet the needs of their clients.
Utilization of Funds
With the newly acquired funding, Orca plans to:
- Expand their team
- Develop and enhance their fraud prevention tools
- Validate and iterate on their compliance products
By leveraging these funds, Orca aims to provide robust solutions that will significantly aid in the fight against fraud in the financial sector.