Orka raises CZK 250m from nordIX, prepares app

(CIANEWS) - Czech fintech group Orka Ventures (member of the NorCham) will raise up to CZK 250m from a new portfolio investor, German nordIX, over the next two years, with the possibility of an increase. The investment will provide funds for lending in the Nordic countries where Orka operates. CEO Ondřej Šmakal said he expects the volume of loans and the number of clients to quadruple. The group may also focus on improving technology, expanding into other countries, including the Czech Republic, and developing products as part of the upcoming Orka Card non-banking mobile app. This will include prepaid cards, which it is developing with card company Visa and Finnish cloud-based card transaction processor Enfuce. Buy Now, Finance Later loans are also coming soon.



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