Orchard Platform Raises $12M in Series A Funding
Summary
Orchard Platform, a NYC-based provider of an investment and analytics platform focused on the global marketplace lending market, raised $12m in Series A funding.The round, which brought total investment to $14.7M, was led by Spark Capital and Canaan Partners, with participation from John Mack, former chairman and CEO of Morgan Stanley; Hans Morris, former president of Visa and managing partner at NYCA; Nigel Morris, managing partner at QED Investors and co-founder of Capital One Financial Services; Anthony Abenante, former CEO of Instinet and senior adviser at KCG Holdings; Max Levchin, founder & CEO of Affirm, and former co-founder and CTO of PayPal; and existing investors Tom Glocer, former CEO of Thomson Reuters; and Vikram Pandit, Former CEO of Citigroup.The company intends to use the funds to expand its team and advance its technology platform.Founded in New York City in 2013 by CEO Matt Burton, Orchard Platform provides an investment and analytics platform for institutional investors and loan originators to connect and transact.By providing investment strategy, real-time trading and reporting, premier analytics, and access to supply, Orchard connects originators to a variety of capital providers and enables them to focus on making loans.