Friday, April 23, 2021

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Orka Technology Group: Raises £29M in Funding

  • Orka Technology Group, a Manchester, UK-based worker tech startup, raised £29m in funding
  • The round was a mixture of debt financing from Sonovate and equity funding involving the British Business Bank Future Fund and existing investors
  • The company intends to use the funds to double headcount to 50 in 2021 and accelerate rapid growth of earned wage access product Orka Pay
  • Orka also provides tech solutions for shift workers with products including labour-as-a-service platform Orka Works, and earned wage access solution Orka Pay
  • Launched last year, Orka Pay enables shift workers at partner organisations to withdraw up to 50% of their wages as soon as they have earned them
  • This year, the company will launch its third core product, Orka Check, to improve the process for worker background checks

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