South African Startup Orca Fraud Raises USD 550 K Pre-Seed Round

Orca, a South African startup that works with banks and fintechs in emerging markets to fight various types of fraud, has raised a USD 550 K pre-seed round. The money raised will be used to build simple, yet effective fraud prevention tools and iterate with customers in South Africa. The oversubscribed round was led by Norrsken22 with participation from First Circle Capital, Musha Ventures, Kara Ventures and several strategic business angels and family and friends.

Founded in January 2024 by Thalia Pillay and Carla Wilby, Orca aims to empower fraud analysts and compliance officers with the tools they need to effectively combat various types of fraud. Using the funding raised, Orca plans to expand its team and build, validate and iterate on their fraud and compliance products.