back Back

Orbital raises $6.4m to expand cyrpto payment capabilities

By Gloria Methri

August 04, 2023

  • Cryptocurrency Payments
  • Digital Asset Treasury
  • FinTech

Orbital, Digital Asset Treasury, Cryptocurrency, Blockchain, Crypto Payments, Multi-Currency Accounts, Trading and Liquidity, FinTech, UKOrbital, the London-based traditional finance and crypto payments platform, has raised £5 million ($6.4 million) in an oversubscribed growth round led by Golden Record Ventures. Other participants in the round include New Form Capital, GSRV, Psalion, and Luminous Futures.

The funding marks Orbital’s first institutional capital raise since being founded in London in 2017.

Orbital provides a range of traditional payment and global FX solutions. It also offers licensed crypto payment services, especially focusing on the business use cases for stablecoins in cross-border payments.

Orbital combines fiat and crypto business accounts to enable traditional, global enterprises, particularly those with exposure to emerging markets, to integrate stablecoins, as well as other major cryptocurrencies and traditional currencies, into existing payment flows. Its APIs further act as an embedded finance solution for stablecoin payments.

Orbital is licensed by the Financial Conduct Authority as an authorised payment institution in the UK and as a virtual currency service provider in Estonia. The funding round will enable Orbital to continue its rapid growth, secure additional licenses in new jurisdictions, and further develop its product.

Luke Wingfield-Digby, co-founder and Head of Corporate Development of Orbital, said “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. 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.”

Jad Benabdelkhalek, General Partner at Golden Record Ventures, added, “The Orbital team has developed a best-in-class, licensed technology platform that caters specifically to large corporates and enterprises. 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.”

Previous Article

August 04, 2023

EasyView joins UBS AssetLink to provide Wealth Management solutions

Read More
Next Article

August 07, 2023

888 selects Nuvei to boost its payment experience in the US

Read More

IBSi Daily News Analysis

June 21, 2024

Cryptocurrency Payments

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 20, 2024

Revolut partners GTN to bring bond trading to EEA customers

Read More

June 10, 2024

5 WealthTech platforms simplifying credit score tracking in India

Read More

June 07, 2024

MORS expands in UK & Netherlands with 2 new neobank clients

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023