Concerto Raises $21M in Funding


Concerto, an Austin, Texas-based company created to power credit card partnerships that enhance the user and product experience for consumers and businesses, raised $21m in funding.

Matrix Partners led the round, with PayPal Ventures and GoldenTree Asset Management also participating. Additionally, GoldenTree has formed a joint venture with Concerto that will fund a minimum of $2 billion in credit card receivables.

The company intends to use the funds to expand operations and the adoption of its platform.

Led by CEO Daniel Duncan, Concerto is launching a card issuing and loyalty platform, which is purpose-built and designed to support the creation and management of co-branded credit card programs. It launched with a number of initial partners, including the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds professional baseball teams.