Orchard Platform, a New York City-based technology and infrastructure provider for marketplace lending, raised $30m in Series B funding.
The round was led by Thrive Capital, with participation from Jon Winkelried, Former President & Co-Chief Operating Officer of Goldman Sachs, Victory Park Capital, Thomvest Ventures, and existing investors including Spark Capital, Canaan Partners, QED Investors, Nyca Partners, Conversion Capital, John Mack, and Tom Glocer.
The company, which has raised $44.7m to date, will use the funds to accelerate development of its technology platform.
Founded in in 2013 and led by Matt Burton, CEO, Orchard Platform provides a technology and infrastructure platform for marketplace lending allowing institutional investors, investment managers and loan originators to connect and transact. It enables institutional investors and investment managers to allocate capital to marketplace lending, with best practices, manager identification, portfolio benchmarking and strategic access to supply.