Fin tech company raises nearly £300k while 3 d imaging company expands
A NORTHERN Ireland financial services firm has raised £280,000 in support from angel investors.
Orca Money, which is based in Belfast, said it will use the funds to build peer-to-peer (P2P) lending financial media site Orca Retail, which was launched last year.
The company, founded by Iain Niblock and Jordan Stodart, was incorporated in 2015.
The business then joined tech accelerator Start Planet NI in Belfast, leading it to come to the attention of Techstart NI — which led the funding.
Mr Niblock said: “Peer-to-peer offers investors higher, more stable returns. It’s an asset class knocking on the door of being mainstream, with massive growth potential through the Innovative Finance ISA. We’re excited to be developing tools to help investors and independent financial advisers benefit from P2P and the investment in our business will help us to continue to grow.”
Peer-to-peer lending is one of the fastest-growing sections of the alternative finance market and is worth around £3bn a year in the UK.
It enables investors to put money into secure and unsecured loans, while consumers can borrow money for their needs, and businesses for purposes such as property.
Meanwhile, a business specialising in 3D printing for healthcare has moved to a new office in Belfast. Axial 3D said its models can be used to help understand illnesses, and make pre-operative planning easier.
The firm is able to send anatomical models around the world within a 48-hour window and has now taken on three new staff.