London, United Kingdom-based traditional finance and crypto payments platform for global enterprises, Orbital raised GBP 5 million in growth funding. The round took place on August 3, 2023. Golden Record Ventures led the financing for the firm. Meanwhile, New Form Capital, GSRV, Psalion and Luminous Futures also provided the investment.
Purpose of financing for Orbital
With the latest financing, Orbital has plans to further bolster its rapid growth. It also intends to secure additional licences in new jurisdictions. Meanwhile, it aims to further develop its product.
This is Orbital’s first institutional capital raise. Since its inception in 2017, the company has been bootstrapped and profitable.
What the company’s official has to add
Luke Wingfield-Digby, co-founder and Head of Corporate Development of Orbital, commented, “We believe all modern, global companies will require access to both blockchain and fiat payment rails, from one single platform, to effectively manage their business in the future. Orbital has been built by veterans who deeply understand the needs of large enterprises, which until now have been massively underserved. Our combined expertise in both traditional finance and crypto means that we are uniquely positioned to serve their demands. Bootstrapped and profitable since 2017, we’ve both grown rapidly and raised financing in a very difficult crypto bear market. Now we’re ready to scale even further and push our platform towards the bleeding edge of fintech.”
What the investors have to comment
Jad Benabdelkhalek, General Partner at Golden Record Ventures, further added, “The Orbital team has developed a best-in-class, licensed technology platform that caters specifically to large corporates and enterprises. Up until now, these have been underserved, meaning there is a distinct lack of competition and a huge opportunity for Orbital to fill that gap. The global business community is starting to understand the value and importance of stablecoins and digital assets, and we are delighted to back Orbital, which is at the forefront of enabling this change.”
About the company
Orbital is a London-Tallinn-Gibraltar-based traditional finance and crypto solutions platform for global enterprises. It is a group of licensed providers of a range of traditional payment and global FX solutions. The company also acts as a provider of crypto payments, especially focusing on the business use cases for stablecoins in cross-border payments. It has more than 80 clients processing USD 250 million of value every month. Orbital’s headcount is 95 globally, and it boasts three offices across regions such as London, Estonia, and Gibraltar.
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