Orchard Platform has announced today that they closed $30 million in new funding in a Series B round. The investment was led by Thrive Capital and included participation from other firms including Victory Park Capital and Thomvest Ventures along with a slew of existing investors. For Orchard Capital, the fundraising brings their total investments to date to $44.7 million.
A marketplace lending firm, Orchard Platform operates a ‘platform for platforms’, connecting investors to numerous P2P lenders. Due to many lenders operating platforms that focus on specific types of loans, Orchard assists investors in having an easier time sourcing numerous types of deal flow.
Regarding this goal, Matt Burton, CEO of Orchard Platform, stated about the new funding that "Our core business vision, of facilitating a faster and more fluid flow of capital through technology and access to data, has gained enormous traction. The market has responded and investors are committed to helping Orchard flourish. We're excited to help continue shaping the future of credit."
Hans Morris, Managing Partner of Nyca Partners, and existing investor in Orchard Platform, stated: “We expect marketplace lending to be a large segment of the institutional marketplace, in the developed as well as less developed economies. One can only believe that the essential tools for institutional investors must exist, such as order management, statementing, benchmarking, and standardization of data for investors and issuers. This is what Orchard does."
