Orca, a new investment app that will allow UK residents to invest in over 200 stocks and ETFs on the London Stock Exchange (LSE), is set to be officially released in December. The team at the app will run a pre-launch giveaway with the total prize of 15,000 GBP worth in shares on the LSE as a total prize fund, right before the app goes live. Currently, Orca has 6,000 participants in the Waitlist. The app has been downloaded over 10,000 times.
The Orca team began alpha testing the app in October, allowing users to get to grips with the app, while the team collected feedback to improve it and ensure its quality in the long run. The app is now passing the final stage of the alpha testing. The main difference between Orca’s alpha and beta versions is that the Beta will have a full scope of features -such as First Portfolio, Collections, Orca Academy and quick deposit and withdrawal- and enable users to invest real money by placing orders for stocks listed on the LSE.
In developing Orca, Denis Gulagin who serves as Orca’s CEO and Fedor Panteleev who serves as CPO, have drawn on their backgrounds in running projects for payment service providers (PSP) Mobile Payments and Neo Banking. Many years of experience and expertise in fintech have enabled the two founders to create a radically different application which, they believe, can encourage even the most prudent of Britons to become investors in stocks and shares.
Recently, Gulagin and Panteleev, gave an interview to Benzinga. They stressed their focus on education and how the app can help new investors build their financial literacy while investing.
“We have small tooltips everywhere,” Panteleev said. “Any complicated definition will be explained to the investor.” In addition, he highlighted that the input from users is key to how the product is being built. “We’ll be closely paying attention to any feedback that we have from our users. That’s the main driver of product development.”
In the near future, the project team wants to add assets traded on NYSE and NASDAQ as well.