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Frequently Asked Questions

About Orca

Orca is a team of P2P specialists. The founders have been involved in alternative investments for three years, having founded an alternative lending platform before starting Orca. They saw first-hand just how important independent research is when making an investment decision. We are a passionate and approachable team.

Orca is a participant in the FCA’s sandbox programme. The regulatory sandbox allows firms to test innovative offerings in a live environment.

Orca is not performing a regulated activity. The P2P platforms which are included in the Orca portfolio are fully regulated as is Modulr Finance who provide segregated bank accounts to Orca clients.

The Orca Investment Platform has two functions: a diversified investment product and an independent research service. Our investment product enables investors to invest in pre-built portfolios comprised of major UK P2P lending platforms, achieving diversification across platforms, sectors, and borrowers. We report on all portfolio performance, which you can monitor from your personal Orca dashboard. Our independent research and analytics is a free service to support investors in their due diligence of the market.

Orca’s research and analytics service can be accessed for free. To access our investment product we charge an annual fee of 0.65% of funds invested paid in arrears. In addition, we may receive commissions from our partner P2P platforms for introducing you to them.

If Orca were to become insolvent, your funds will not be directly impacted. The funds held in your own individual Modulr Account are held in your own name at all times and all investments on underlying P2P platforms are held in your own name, not Orca’s. This means that in the event of Orca failing, you still have the rights to your funds and your investments.

If Orca was to fail, you will be given the option to withdraw from your investments and have the proceeds paid back into your bank account or to take control of your accounts at the underlying P2P platforms.


People aged 18 or over who live in the UK and have 3 years’ residency history can invest.

You can sign up here and the process shouldn’t take you any longer than 5 minutes to complete.

When you choose to invest on the Orca Investment Platform, you will be asked to provide us with some personal details such as your date of birth and address history. We require this data to help our partnering P2P platforms fulfil regulatory Know Your Client and Anti-Money Laundering duties. Please rest assured that any personal details held by Orca will be stored securely and will never be used or shared for any other purposes.

You can access our research and analytics service for free. If you choose to invest with Orca, we will charge an annual fee of 0.65% of funds invested, with a minimum fee term of one year, which is non-refundable. Fees will be charged in arrears and calculated as the value of the Portfolio at the time the fee is charged. The value of the Portfolio is based upon the aggregated data we receive from the P2P Platforms in your Portfolio. We will automatically withdraw this fee from your portfolio, which is described in more details in our terms and conditions, from cash, where possible, or from an “easy access” account.

Some of the underlying P2P platforms that you are invested in may charge their own fees for early access to funds. Those fees will be charged to your accounts at the respective platforms as is standard. We will charge a small administrative fee of 0.25% to process early access actions.

Read more about Orca’s Terms & Conditions and also the underlying platforms Ts&Cs here: Ts&Cs

Yes. To invest through the Orca Investment Platform, we require a minimum investment of £1,000. Some products may have higher minimums. The reason we have a minimum investment amount is to ensure your portfolio has an adequate level of diversification.

Yes. You can add funds in £1,000 increments to your Orca portfolio. To top-up your account, simply login to your Orca dashboard, visit Top Up, then follow the instructions.

While our investment solution is intended for long-term investment horizons, you can request to withdraw your funds at any time. There are two options you have here:

  1. Withdraw as soon as possible: Some underlying portfolios charge fees when withdrawing from your account. If you select to withdraw as soon as possible, your funds will be withdrawn from the portfolio regardless of fees and deposited back into your account. The total fee including Orca’s 0.25% administration fee is likely to be around 0.7%-1%.
  2. Withdraw without incurring any fees: Some underlying portfolios charge fees when withdrawing from your account. If you select to withdraw without incurring any fees, your funds will be withdrawn from your portfolio for free, where possible, with other loans left to expire naturally. As your repayments are continually reinvested in existing and new loans on the platforms, of up to five years in term, this means the withdrawal process can take up to five years from the point of issuing a withdrawal request.

It is important to remember that while P2P platforms allow for early withdrawal, where possible, withdrawing from your portfolio early is only possible if there are other investors who wish to buy those loans from you. Under normal circumstances, this is usually fine, but under adverse market conditions there may be a delay in getting your funds back or you may have to hold your loans to term. The loans in your portfolio have terms up to five years.

Yes. You have the ability to withdraw from your portfolio from £1,000 up to the total value of your portfolio. If a withdrawal will leave your account below the minimum investment amount for that product, you will need to withdraw everything from your portfolio.

If you need to withdraw less than £1,000 or have any questions about the withdrawal process, please get in touch.

We currently don’t offer any functionality to take a regular income from your investments. However, if you need to withdraw money from your portfolio, you can partially or fully withdraw from your investments.

You will have to create a new account but you can use the same password. All the research that was included in our previous service, Orca Analytics, has been placed on our front-facing website and will continue to be free to use.


Orca’s investment portfolios may include allocations to Assetz Capital, Zopa, RateSetter, LendingCrowd, Octopus Choice, Landbay and Lending Works. The specific combination and allocation to each P2P platform will differ between portfolios depending on the products available in the market. 

Our pre-built portfolios are constructed according to portfolio objectives, the size of the platforms and the minimum account sizes on the underlying platforms. A combination of portfolio aims and portfolio restrictions are used when curating portfolios:

Portfolio curation aims

  • Diversification across consumer, business, property
  • Diversification by market share
  • As the investor invests more the diversification increases
  • Net indicative return of 5% (net of 0.65% fee), regardless of portfolio choice. The return is a weighted blend of the underlying P2P advertised rates.
  • As much market coverage as possible

Portfolio restrictions

  • Technically feasible to open accounts and send funds
  • Platforms are FCA regulated
  • Orca due diligence has been conducted
  • Secondary market available
  • P2P platform minimum investment £1,000 or less

The platform allocation of a portfolio is dependent on the amount invested. Portfolios are diversified across platforms, ensuring exposure to different sectors and multiple borrowers is achieved. You can view the allocation of your portfolio by logging in to your personal Orca dashboard.

Your expected returns will differ between investment portfolios, but none of Orca’s portfolios target a specific rate of return. Instead, our investment portfolios are constructed to achieve diversification across a number of platforms in accordance with some high level investment objectives. The rate of return will entirely be a function of the rates offered by the underlying P2P platforms at any given moment in time.

No. Your portfolio will either be in cash or invested in P2P platforms at any time.

At this time, we are not able to transfer an account. If you already have a P2P investment which is included in the Orca portfolio, you will need to open a separate account with us. You have the choice to close your current P2P investment account or not. It is possible to have both.

Orca’s selection of partner P2P platforms is based on platform quality (per Orca’s research) and what is technically possible. 

Orca conducts independent due diligence on numerous P2P platforms. You can access our research for free on our website. When reviewing investment platforms, we will research numerous factors including operator health, performance, liquidity, security and borrower profiles.

Investments on the P2P platforms will always be held in your own name. No investments are held in Orca’s name. We are here to help you build, execute and report on your investments as easily and efficiently as possible.

You can view platform Terms & Conditions, Orca’s Terms & Conditions and also our partner services Terms & Conditions here: Ts&Cs

Due to the stable nature of P2P investment returns, we do not expect portfolios will require rebalancing actions between platforms. However, if there are significant changes due to unexpected circumstances we may contact you with the option of rebalancing your portfolio. Please note, we will only contact you in extreme circumstances if we felt your investment faced an avoidable risk. Your decision to take action is then yours and our communication should not be considered as advice.

We will not contact you with the option of rebalancing if the performance of a platform changes.

We will manage communications for you, to avoid clogging up your email inbox. Your portfolio will be invested across multiple P2P platforms, all of whom will send you communications relating to that respective account. We will communicate with you directly regarding updates to your portfolio. If there are important communications or actions required from the P2P platforms we will flag these to you. 

One of the benefits of investing through the Orca Investment Platform is that you are diversified across multiple underlying P2P platforms, which limits your exposure to a single platform in case of a platform failure.

Your investments on P2P platforms are ultimately loan agreements between you and an underlying borrower. If a platform fails, nothing changes there, and the loan obligation will remain in tact. The FCA requires P2P platforms to have wind-down plans in case of a failure scenario and these would be triggered if a platform were to fail.

Orca regularly conducts due diligence on underlying P2P platforms and if we have significant cause for concern we will contact you and give you the option to amend the allocations of your portfolio.

My Account

Not to worry, we’ll get you back into your account as soon as we can.

Forgotten your password?

If you can’t remember your password, click the ‘Forgotten Your Password’ link when you try to login and instructions will be sent to your email.

Typed the wrong password too many times?

If you have typed the incorrect password too many times, you will be locked out and an email sent to the address associated with your Orca Account with further instructions.

You can change certain personal details in the Profile section of your dashboard such as password and address.

To change the name associated with your Orca Account, email address, or bank details, contact Orca on [email protected]


While we always aim to put our customers’ interests first, we are aware that you may not always be satisfied with our services.

If you are unhappy with Orca for any reason, please get in touch by emailing [email protected] and insert ‘Complaint’ into the subject line – this will escalate your complaint. A designated senior member of the team will then be in touch.

Transferring money is a straightforward process and can be done via an internet Bank Transfer only at this time. You will be required to send money from your personal bank account to a new Account, issued by the payment service company Modulr Finance Ltd and held with the bank Santander. This Account is in your name, not Orca’s.

To make a transfer, login to your Orca dashboard, visit Top Up and follow the instructions. A minimum investment of £1,000 applies. Remember, it may take some time for the transfer to process.

If you choose to withdraw money, we will process this request as per your chosen method of withdrawal (described in FAQ ‘How can I get my money back?’ above). Once funds have been withdrawn, we will transfer your money back to your personal bank account. 

We are very sorry to hear this. We value your feedback and aim to improve, so we’d like to speak with you directly to understand if there’s anything we can help with. If no resolution is found, we will begin the account closing process. 

To close your Orca Account, contact Orca by emailing [email protected] and insert ‘Close My Account’ into the subject line – this will escalate your request. A member of the team will then be in touch.

Once funds have been transferred to your Modulr Account (held with Santander), our team will update your Orca dashboard. The amount you transfer will be reflected in ‘Total Deposited’. Once deposited at the platforms, they will initially sit in cash waiting to be lent, reflected as ‘Interest & Principal Queued’. Once the platforms have matched your funds to borrowers, your funds will be lent, reflected on your Orca dashboard as ‘Total Invested’.

If these figures seem incorrect, it could be for a couple of reasons.

Funds have not reached your Modulr Account yet

It can take a couple of days for funds to reach your Modulr Account. This means your Orca dashboard may reflect ‘£0’ for a couple of days.

Your Orca dashboard has not been updated yet

We will update your Orca dashboard display with the amount deposited in your Modulr Account. This will be reflected in the ‘Total Deposited’ section of your dashboard. While updating your dashboard will usually happen quickly, it can take longer depending on when the funds were transferred (e.g, non-business hours or public holidays).

Your funds have not been deposited across the platforms yet

It takes around 1 working day to open the P2P accounts and deposit funds. Once the P2P accounts have been opened and funded, the ‘Interest & Principal Queued’ figure within your Orca dashboard will update.

The platforms have not matched your funds to borrowers yet

Once your funds have been lent across the platforms, the ‘Total Invested’ figure will update on your Orca dashboard to reflect the amount that has been invested. 

Remember, some platforms may take longer to match your funds with borrowers.

If you have any queries regarding the data displayed on your Orca dashboard, or the asset allocation, please get in touch by emailing [email protected] or message us on Live Chat.

The process of depositing funds into your Modulr Account, Orca opening and funding the P2P accounts, and the P2P platforms facilitating the investment of your funds is described above.

Total Deposited: This figure represents the amount of funds you deposited when you funded your Orca Account.

Interest & Principal Queued: This figure represents the amount of funds that is currently in cash at the P2P platforms. This includes cash waiting to be lent, such as when the account is opened, and interest earned which is reinvested.

Total Invested: This figure represents the amount of funds that has been lent to borrowers across the platforms.

Total Account Value: This figure represents the total value of your account, including funds on loan and funds in cash.

No. At no time will your funds be held with Orca. When you open an Orca Account and decide to Top Up, you will be instructed to transfer funds to a Modulr Account held in your name and segregated from other investors’ funds. Your funds will ultimately be held with the bank Santander. In the unlikely event of Orca becoming insolvent, your funds are protected.

Once your funds have been sent to the P2P platforms they will be held at the P2P platforms. Any cash held at a P2P platform is held in a segregated bank account. 

Modulr Finance Ltd (Modulr) is Orca’s Partner payment service provider. When you choose to invest with Orca, you will be instructed to transfer funds into an independent Modulr Account, held with the bank Santander, and in your own name. Modulr enables on-demand creation of dedicated sort code and bank account numbers, with all funds held in segregation.

Modulr Finance Limited, a company registered in England with company number 09897957 and ICO Registration: ZA183068, is registered with the Financial Conduct Authority as an EMD Agent of Modulr FS Limited. Modulr FS Limited is Authorised and Regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573).

To know your Modulr Account balance, please get in touch directly. A member of Orca will be able to view your Account and inform you of the balance.

Contact Orca by emailing [email protected] or message us on Live Chat.

By closing your Modulr Account, you will in turn close your Orca Account. As your funds are held in a bank account in your name, issued by Modulr Finance Ltd, closing this Account will result in your Orca Account closing and all investments within your portfolio being either transferred to you directly or withdrawn, depending on your preference.

Please make sure you understand the implications of closing your Modulr Account. We will then process the termination of your Modulr Account by contacting Modulr and issuing the request – once Modulr has informed us that your Account has closed we will close your Orca Account and get in touch with you.

To close your Modulr Account and Orca Account, contact Orca by emailing [email protected] and insert ‘Close My Account’ into the subject line – this will escalate your request.

Sorry to hear you have a complaint about our payment service provider, Modulr Finance Ltd. Once you have provided us with your complaint, we will send the details to Modulr directly, escalating your complaint to the Complaint Handling Manager. You will then receive an acknowledgement email within two business days setting out the complaints procedure.

To complain about Modulr Finance, contact Orca by emailing [email protected] and insert ‘Modulr Complaint’ into the subject line in order to escalate your complaint.

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Ormeau Baths, 18 Ormeau Avenue, Belfast, Northern Ireland, BT2 8HS