Orca reels in €550K to sink fraud in emerging markets
- Orca secured €550K in a pre-seed funding round that was oversubscribed.
- The funding will be used to develop effective fraud prevention tools for South African banks and fintechs.
- South Africa has seen a 600% increase in reported fraud cases since 2018.
Orca's innovative approach to fraud prevention in emerging markets is commendable, especially given the alarming rise in fraud cases in South Africa. Their focus on tailored solutions and commitment to diversity in leadership positions them well for success in a challenging market. However, the startup must navigate the complexities of scaling its operations while maintaining the effectiveness of its solutions.
