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Orchard Platform, which provides services to institutional investors in the marketplace lending industry, has raised $30 million in additional funding.
September 10 -
The San Francisco company hopes to lower its costs by driving out human intervention as much as possible. To get there, it has made the counterintuitive decision to locate its operations staff in one of the countrys most expensive cities.
September 3 -
While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.
August 17
PeerIQ, which provides data to firms that invest in marketplace loans, has raised $2.5 million in early-stage financing.
The New York-based startup said in a press release Monday that it plans to use the funding to accelerate its core growth initiatives.
Those efforts include adding new features to the firm's platform, which allows institutional investors to analyze and manage risk in marketplace loans. PeerIQ also plans to use the funding to add staff and market its services to new customers.
New investors in PeerIQ include the private-equity firm Victory Park Capital and Fenway Summer Ventures, which is headed by Raj Date, the Consumer Financial Protection Bureau's former deputy director. Also participating in the funding round was John Mack, the former Morgan Stanley chief executive officer.
[Coming this November:
PeerIQ was founded in 2014. Mack, former Citigroup CEO Vikram Pandit and Arthur Levitt, the former chairman of the Securities and Exchange Commission, were among the investors in an earlier $6 million funding round that PeerIQ announced in April 2015.
Last week, Orchard Platform, a firm founded in 2013 that also provides data for the marketplace lending industry,
