Toronto, ON- MLA48, Canada’s first angel investment fund committed to providing 48 hour turnaround on investment decisions, today announced its first investment in high-growth start-up, Orchard Labs Inc. The initial investment from MLA48 spurred over $500,000 of further investment from the broader Maple Leaf Angel membership and other independent angel investors.
Orchard Labs was founded in Toronto in 2012 by Alex Sebastian, Bruno Wong, and Hamza Javed. Orchard enables the buying and selling of pre-owned iPhones through a unique, secure solution. Customers deal exclusively with Orchard, and the company’s innovative approach to the process eliminates safety and quality concerns for both sides in the transaction. Orchard’s management team brings a diverse background of experiences, a disruptive business model and a strong growth profile, which are key elements in the MLA48 criteria for investment. MLA48 is excited to be leading this round and providing this high-potential investment opportunity to the MLA membership.
"The MLA 48 Fund's investment process was clearly articulated at the very start, and I was always clear on where Orchard stood in that process,” said Alex Sebastian, co-founder of Orchard. “I am excited to work with the MLA team, who have the background and depth of experience to open doors for Orchard that would otherwise be unavailable."
“The Orchard investment is a great start for MLA48 and the investment process was fast and efficient as planned,” said Brandon Corman, Managing Director of MLA48. “We believe that this first investment will entice more startups to apply to MLA48 both for rapid access to funding and to benefit from the mentorship, relationships, and experience of our membership. Our goal at MLA48 is to change the way founders think about raising money in Canada.”
MLA48 is a limited partnership designed to foster innovation in Ontario by accelerating funding timelines for Ontario’s brightest entrepreneurs while providing diversification for accredited investors. Established in 2014, MLA48 is led by Maple Leaf Angels Capital Corporation in collaboration with Maple Leaf Angels Corporation.
For more information please visit www.mla48.com and follow us on Twitter at @MLA48LP .
About Maple Leaf Angels
Established in 2007, Maple Leaf Angels is a not-for-profit organization. Funding Ontario’s most promising new companies, Maple Leaf Angels is an experienced group of high net worth private individuals who invest in seed and early stage technology companies. While investments are made individually, MLA members benefit from experience with best practices in early stage investing and from the collective knowledge and networks of the group.
For more information please visit https://www.mapleleafangels.com or follow us on Twitter at @mapleleafangels
Founded in 2012, Orchard is an innovative platform for buying and selling used iPhones based in Toronto, Ontario. They handle it all: from assessing the phone’s condition to brokering shipping and payment.
Orchard is unique because they take the guesswork out of finding a fair price for a used phone.
For More Information
To learn more about Maple Leaf Angels or MLA48, please contact: