Shantel
Key Takeaways
- Orbital, a fintech platform specializing in both traditional and cryptocurrency payments, raised £5M in an oversubscribed growth round.
- The round marked Orbital’s first institutional capital raise, highlighting its profitability since its launch in 2017.
- The company’s unique offer combines fiat and crypto business accounts, enabling enterprises to integrate stablecoins and other cryptocurrencies into their existing payment flows.
- The funding will fuel Orbital’s continued expansion, secure additional licenses in new jurisdictions, and further develop its innovative product.
Bridging the Gap Between Traditional Finance and Crypto Payments
Launched in 2017, Orbital has been paving a unique path within the financial landscape. Based across London, Tallinn, and Gibraltar, this payment platform has been harmonizing the fields of traditional finance and cryptocurrency for global enterprises. Now, Orbital has raised a substantial £5M ($6.4M) in an oversubscribed growth round led by Golden Record Ventures, signifying its first institutional capital raise.
Orbital’s appeal is in its unique proposition that caters to an underserved market. It provides a range of traditional payment and global FX solutions but distinguishes itself through its licensed crypto payment services. Its particular focus is on stablecoins’ business applications in cross-border payments.
Demystifying Crypto Payments
By integrating both fiat and crypto business accounts, Orbital is addressing the needs of traditional, global enterprises, especially those dealing with emerging markets. The company’s platform enables businesses to accept cryptocurrency payments from customers, off-ramp into traditional currencies like USD, GBP, and EUR, and settle into IBAN accounts in minutes. This process gives companies the power to tap into new markets without the need for a physical presence or domestic bank accounts, even bypassing the need to handle cryptocurrencies themselves.
Luke Wingfield-Digby, co-founder and Head of Corporate Development of Orbital, explains, “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.”
Pioneering an Innovative Business Solution
Orbital’s commitment to offering an industry-first product has bridged the gap between traditional finance and digital asset treasury solutions. It provides a regulated, secure, and frictionless experience for multinational corporates, acting as a one-stop-shop for a host of treasury operation tools. This includes multi-currency accounts, foreign exchange, global payments, and digital asset custody.
“Our combined expertise in both traditional finance and crypto means that we are uniquely positioned to serve their demands. 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,” Wingfield-Digby adds.
The Road Ahead for Orbital
This new funding round is more than just a financial milestone for Orbital. It will facilitate its rapid growth, help secure additional licenses in new jurisdictions, and fuel further product development.
Jad Benabdelkhalek, General Partner at Golden Record Ventures, acknowledges this potential, stating, “The Orbital team has developed a best-in-class, licensed technology platform that caters specifically to large corporates and enterprises. Up until now these have been underserved, meaning there is a distinct lack of competition, and a huge opportunity for Orbital to fill that gap.”
About Orbital
Orbital is a traditional finance and crypto solutions platform for global enterprises based in London, Tallinn, and Gibraltar. Its services span traditional payment and global FX solutions, along with crypto payments, with a special emphasis on stablecoin business applications in cross-border payments. Now standing at a global headcount of 95 across three offices, Orbital is charging forward into the future of fintech with its recently secured £5M in funding.
In a world where the adoption of crypto payments is on the rise, Orbital is at the helm of this sea change. With its new round of funding, this fintech trailblazer is set to scale new heights and further its mission to blend traditional finance with crypto payments.
