Orka Technology Group raises £29m from Sonovate and the Future Fund to expand wage access product
The Manchester worker tech start-up secured a mix of debt and equity financing to double its headcount and grow Orka Pay.
Orka Technology Group provides technology solutions for shift workers and employers, streamlining recruitment, onboarding and wage access. Headquartered in Manchester, the company serves major clients in sectors such as facilities management.
Orka Technology Group has secured £29m in a funding round comprising debt financing from Sonovate alongside equity backing from the British Business Bank Future Fund and existing investors. The capital will be deployed to accelerate the expansion of its earned wage access product, Orka Pay, and support plans to double its workforce to 50 employees this year.
Founded in 2017, the Manchester-based company provides digital infrastructure for temporary staff across regulated sectors such as logistics and security. Alongside Orka Pay and its labour marketplace Orka Works, the firm prepares to launch a new background checking tool named Orka Check.
This latest injection brings total funding raised by the business to £31.5m. The company recently joined Tech Nation's Upscale 6.0 programme following a period of strong growth.
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
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About the company
Orka Technology Group
Orka Technology Group provides technology solutions for shift workers and their employers.