The Venture Codex

Participated · Equity · Aug 2023

Orbital provides a combined fiat and crypto payments platform and APIs that enable enterprises to integrate stablecoins, other major cryptocurrencies, and traditional currencies into existing payment flows. The platform offers business accounts, global FX solutions, licensed crypto payment services and embedded finance APIs for stablecoin payments, allowing customers to accept crypto, off-ramp into USD/GBP/EUR and settle into IBAN accounts in minutes. It targets traditional, global enterprises—particularly those with exposure to emerging markets—seeking to access new markets without physical presence or domestic bank accounts. Orbital has over 80 clients processing $250M of value every month and a global headcount of 95. The company is licensed by the UK Financial Conduct Authority as an authorised payment institution and as a virtual currency service provider in Estonia. It plans to use the new funding to continue growth, secure additional licences in new jurisdictions, and further develop its product.