London-based blockchain payments platform, Orbital, Raises 5M Pound in an oversubscribed growth round, marking the company’s first institutional capital raise. The investment round was led by Golden Record Ventures, with Orbital’s founders retaining a majority stake at an attractive valuation.
Orbital Raises 5M Pound in First Capital Raise: A Leap Towards Blending Traditional Finance and Crypto Solutions
Founded in 2017, Orbital has been bootstrapped and profitable, charting a course as a traditional finance and crypto solutions platform for global enterprises. The participation of other investors like New Form Capital, GSRV, Psalion, and Luminous Futures underscores the firm’s market potential.
Despite the current crypto bear market, Orbital, with its seven-digit monthly revenue, has grown over 40% in the last six months. The funding round precedes a prospective Series A round and is set to propel Orbital’s rapid growth, enable license acquisitions in new jurisdictions, and stimulate further product development.
Merging Traditional Finance and Crypto Rails
Luke Wingfield Digby, co-founder and CIO of Orbital, envisions a future where all global companies would require access to both blockchain and fiat payment rails from a single platform to efficiently manage their business. With its unique blend of traditional finance and crypto, Orbital aims to cater to the largely underserved large enterprises, harnessing its understanding of their needs.
A Revamp of Traditional Banking
Jad Benabdelkhalek, General Partner at Golden Record Ventures, highlighted the existing friction and inefficiencies in the B2B payments sector’s legacy systems. By developing a compliant technology platform, Orbital has positioned itself as a best-in-class provider catering specifically to large corporates and enterprises.
Bridging the Gap between Traditional Finance and Crypto
Founded by seasoned industry veterans Chris Mason, Luke Wingfield-Digby, and Paulius Grigaitis, Orbital diverges from the norm by combining traditional payment and global FX solutions with licensed crypto payment offerings. The platform’s focus on stablecoins for business use cases in cross-border payments adds another dimension to its capabilities.
With its APIs serving as an embedded finance solution for stablecoin payments, Orbital merges traditional finance with digital asset treasury solutions. The company provides a regulated, secure, and frictionless experience for multinational corporates through its industry-first product, offering access to a range of treasury operation tools.
Orbital’s Current activity size
As of now, Orbital has around 80 clients processing $250M of value every month. Boasting a global headcount of 95 and offices in London, Estonia, Gibraltar, and Manila, the company is set to make further inroads into blending traditional finance and crypto solutions.
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