What does Turbine Finance Corp. do?
Turbine Finance Corp is a liquidity platform that leverages machine learning and data science to provide credit facilities to venture investors. The company streamlines underwriting processes by offering liquidity solutions that allow firms to unlock the value of their LP and GP positions without reducing exposure.
How much did they raise?
The company raised $13M in Series A funding, co-led by Alpha Edison and TTV Capital, with additional participation from Fin Capital, B Capital, and Sozo Ventures. This round follows an earlier Seed funding of $8.75M and is complemented by a $100M warehouse facility from Silicon Valley Bank, bringing its total financial backing to $121.75M.
What are their plans for the money?
With the newly raised capital, Turbine Finance Corp plans to fully deploy its warehouse facility and expand its data science team. This expansion is expected to accelerate its mission of unlocking $13 trillion in global capital by enabling faster and more cost-effective credit solutions for venture and private equity investors.
What have they achieved so far?
The company has already showcased significant progress by transforming months-long manual underwriting processes into days through the effective use of data science and machine learning, thereby delivering precise fund performance insights and streamlined lending solutions.
