Orka Technology Group to get £29 million in debt and equity.
Orka Technology Group, a Manchester, UK-based company operating a digital recruitment business, announced that it raised £29 million ($40.7M).
The capital is a combination of debt financing from Sonovate and equity funding from the British Business Bank Future Fund and existing investors, including former UK CEO of Adecco, Peter Searle.
Orka, launched in 2017 as Broadstone by James Doyle, Nick Groves and Tom Pickersgill, started as a digital recruitment marketplace called Orka Works for shift workers. The company has expanded its product protfolio with Orka Pay, which lets shift workers withdraw up to 50 percent of their wages as soon as they have earned them, providing an alternative to high-interest loans and credit card debt, and with Orka Check, to be launched in the future, a tool to improve the process for worker background checks.
Orka previously raised almost $2.5M from investors including Maven Capital Partners.