This fintech startup has assembled an incredible lineup of big-name Wall Street investors
The company is raising $30 million in funding in a Series B round led by Thrive Capital, joining the likes of Spark Capital, Canaan Partners, Victory Park Capital, and Thomvest Ventures.
The group of investors now includes Jon Winkelried, who was co-chief operating officer of Goldman Sachs until 2009.
He joins an impressive list of individual investors. It includes John Mack, who was chief executive of Morgan Stanley until 2010. Vikram Pandit, who led Citigroup until 2012, is an investor.
Hans Morris, former president of Visa and managing partner at NYCA, is also an investor, as is Nigel Morris, managing partner at QED Investors and cofounder of Capital One Financial Services.
Anthony Abenante, former CEO of agency brokerage Instinet and senior adviser at trading firm KCG Holdings, has participated in funding rounds, as has Tom Glocer, former chief executive of Thomson Reuters. Max Levchin, cofounder of PayPal, is also a backer.
"We want to bring on investors and advisers who have a unique point of view," Orchard cofounder David Snitkof told Business Insider.
"That's the kind of investor you want to be able to go to for advice," he added.
Orchard Platform places loans originated through startups, like Lending Club and Prosper, with institutional investors, including hedge funds and business-development corporations. It helped facilitate $227 million in loans during July alone.
"The availability of credit in the market is something that's gone through meaningful changes," Jon Winkelried told Business Insider. "Professional infrastructure is really demanded in that market."