Orbital Secures £5M in Growth Funding: Pioneering Finance Solutions for Global Enterprises
August 1, 2023
Orbital, the innovative London-Tallinn-Gibraltar based finance and crypto solutions platform, recently made headlines by securing a significant £5 million ($6.4 million) in a growth round led by Golden Record Ventures. This substantial investment comes at an exciting time for Orbital, as it marks the company's first institutional capital raise, highlighting its robust growth trajectory and unique positioning in the market.
The funding round, which saw participation from notable investors including New Form Capital, GSRV, Psalion, and Luminous Futures, underscores the confidence in Orbital's vision and potential. Founded in 2017, Orbital has distinguished itself by offering a comprehensive suite of traditional payment and global foreign exchange solutions, coupled with licensed crypto payment services.
One of Orbital's key strengths lies in its ability to bridge the gap between traditional finance and digital asset treasury solutions. By combining fiat and crypto business accounts, Orbital empowers global enterprises to seamlessly integrate stablecoins and other major cryptocurrencies into their existing payment flows. This approach not only facilitates cross-border transactions but also streamlines the process for businesses operating in emerging markets.
The platform's versatility is further amplified by its application programming interfaces (APIs), which serve as an embedded finance solution for stablecoin payments. Through Orbital's APIs, companies can accept cryptocurrency payments from customers, convert them into traditional currencies such as USD, GBP, and EUR, and settle seamlessly into IBAN accounts within minutes. This frictionless process enables businesses to tap into new markets without the constraints of physical presence or domestic banking requirements.
Crucially, Orbital's commitment to regulatory compliance and security is evident through its licensure by the Financial Conduct Authority (FCA) in the UK and as a virtual currency service provider in Estonia. With additional licenses slated for announcement in the coming months, Orbital is poised to expand its footprint across new jurisdictions, further enhancing its global reach and accessibility.
Despite the prevailing challenges posed by the crypto bear market, Orbital has demonstrated impressive resilience and growth. With over 80 clients processing $250 million of value every month, and a headcount of 95 spread across three offices, Orbital's momentum shows no signs of slowing down.
Looking ahead, the infusion of capital from the recent funding round will fuel Orbital's continued expansion and product development initiatives. As the demand for digital asset solutions continues to rise, Orbital remains at the forefront of innovation, catering to the evolving needs of modern enterprises.
In a statement reflecting on the company's trajectory, Luke Wingfield-Digby, co-founder and Head of Corporate Development at Orbital, emphasised the importance of providing a comprehensive platform that meets the diverse needs of global businesses. Wingfield-Digby highlighted Orbital's deep understanding of enterprise requirements, coupled with its expertise in both traditional finance and crypto, as key differentiators driving the company's success.
Jad Benabdelkhalek, General Partner at Golden Record Ventures, echoed similar sentiments, expressing confidence in Orbital's ability to address the underserved needs of large corporates and enterprises. With a focus on stability, security, and innovation, Orbital stands poised to shape the future of global finance, one transaction at a time.