DebtMarket, a San Ramon, CA-based online marketplace for buying and selling loans, completed an angel financing round.
In addition to DebtMarket’s CEO, Scott Walchek, the new investors include James D. Robinson III, Timothy Draper, James G. Jones, Patrick Cave, Damon Munchus, King Mueller, Tom Unterman and Eric Xu.
The funds will help the company to expand its sales and marketing efforts, as well as fill key management roles. DebtMarket is also opening its San Ramon headquarters to accommodate its expansion and additional staff.
Founded in 2007, DebtMarket is designed to offer a more efficient way to achieve liquidity for lenders and provides direct access to more deals for investors.