The round, exceeding its target investment, was led by Norrsken22 with participation from First Circle Capital, Musha Ventures, Kara Ventures, and strategic angel investors.
Founded in January 2024 by Thalia Pillay and Carla Wilby, Orca equips banks and fintech companies in emerging markets with easy-to-use yet powerful fraud prevention tools.
The startup aims to empower fraud analysts and compliance officers to combat various financial threats effectively.
Orca plans to leverage the funding to expand its team and focus on building, validating, and iterating its fraud and compliance solutions.
Initially focusing on the South African market, the company will gather customer feedback to refine its offerings.
This investment highlights the growing need for robust fraud protection solutions in emerging markets, where financial institutions and fintechs navigate unique challenges.
Orca’s commitment to providing simple and effective tools positions them to play a significant role in safeguarding the financial landscape in these regions.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
The Fund for Export-Development in Africa (FEDA), an investment arm of the African Export-Import Bank (Afreximbank), has established a $1 billion Africa Film Fund to support Africa’s growing film and TV industry.
Tanzanian fintech startup NALA has secured $40 million in a Series A funding round, one of the largest of its kind in Africa according to TechCrunch.
South African electric vehicle startup Zimi has received a grant of $320,000 (about R6 million) from the Energy and Environment Partnership (EEP Africa Trust Fund).
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