Orca Fraud raises R40m to scale fraud detection in emerging markets
According to a post published on the company’s website, the funding round was led by returning investor Norrsken22, with participation from OneDayYes, Enza Capital and CV VC Africa.
The company, founded by Thalia Pillay and Carla Wilby, says its platform currently processes more than $5bn (about R92bn) in monthly transaction volume across more than 70 countries. It works with banks, telecommunications companies and payment providers.
Orca Fraud says the oversubscribed seed round was raised after 16 months as demand for fraud detection tools increased alongside the growth of digital payments.
Nivesh Pather, principal at Norrsken22, says institutions are increasingly looking for fraud intelligence tools that operate directly within payment systems.
“As digital payments accelerate and fraud becomes more organised and technology-driven, institutions need intelligence embedded directly into transaction flows to protect customers without slowing payments,” he says.
Pather adds that demand for enterprise fraud prevention tools reflects changes in how organisations approach payment security.
The funding announcement and related details were published in a blog post on Orca Fraud’s website.