Orka raises GBP 29 mln for the growth of its Orka Pay

Tuesday 23 February 2021 12:51 CET | News

Orka Technology Group has raised GBP 29 million in its latest funding round, a capital that will be used to fuel the growth of its earned wage access product Orka Pay.

The fundraising was a mixture of debt financing from Sonovate and equity funding involving the British Business Bank Future Fund and existing investors. This takes the total raised by Orka to GBP 31.5 million since the company launched in 2017, as per Fintech Finance.

The start-up will use the funding to grow Orka Pay and double its headcount to 50 in 2021. The aim is also to invest in its full portfolio of tech solutions for shift workers, which includes the company’s flagship product, labour-as-a-service platform Orka Works. Orka Works (formerly Broadstone), allows workers to find flexible temporary employment with large organisations working in traditional, regulated industries such as security, cleaning, and logistics. 

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Keywords: Orka, funding, wage, Orka Pay, banks, payments , security, cleaning
Categories: Banking & Fintech
Countries: World
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