GoldenTree and Concerto form joint venture to fund $2 billion+ in credit card receivables

Concerto introduces groundbreaking loyalty programs for professional baseball teams, including the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds

AUSTIN, Texas–(BUSINESS WIRE)–#BaltimoreOriolesConcerto, a new company created to power credit card partnerships that enhance the user and product experience for consumers and businesses, today unveiled its next-generation card issuing and loyalty platform. The Concerto platform is purpose-built and designed to support the creation and management of co-branded credit card programs. It launched with a number of initial partners, including the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds professional baseball teams.

To support the growth of the platform, Concerto also announced that it has raised $21 million in early-stage, strategic funding. Matrix Partners led the round, with PayPal Ventures and GoldenTree Asset Management also participating. Additionally, GoldenTree has formed a joint venture with Concerto that will fund a minimum of $2 billion in credit card receivables.

“Our significant commitments include both an equity investment and an agreement to fund at least $2 billion in credit card receivables, reflecting our strong belief in the Concerto team, its business model and the tremendous opportunity ahead,” said GoldenTree Partner Joe Naggar.

Concerto architected a superior platform that combines leading-edge card issuing technologies and advanced analytics to construct and deliver credit card programs that excite brand partners and thrill their customers. Its cloud-based platform and API-centric approach also dramatically accelerates the development and deployment of large, customized partner programs.

Giving Fans Something to Cheer About

Concerto launched with a number of groundbreaking credit card loyalty programs for several baseball teams that will bring fans closer to the game than ever before. Fans who choose team-issued cards can gain access to game tickets, merchandise, memorabilia and exclusive experiences which money can’t buy. Cardholders will also enjoy periodic contests and surprises that engage their hearts and minds. Because of Concerto’s digital features, fans can easily apply for a team-issued Mastercard, receive an instant approval and begin using their new account immediately, even if they are already at the ballpark.

“Rangers fans are the best in baseball, and they deserve a truly meaningful rewards program,” said Jim Cochrane, Senior Vice President of Partnerships with the Texas Rangers Baseball Club. “Concerto gives us the power to roll out all kinds of new experiences, and the Concerto team has enthusiastically incorporated our ideas faster than we thought possible. What we’ve created together goes beyond any rewards program I have seen, and we are proud to be Concerto’s first sports partner.”

“Concerto is excited to work with teams in fanatical baseball markets to create great programs for each club,” said Concerto Co-founder and Head of Business Development Matt Tomko. “We have planned some special things with our partners and are excited about delighting their fans.”

Designing Credit Card Partnerships for the Next Generation of Fintech

The team behind Concerto has decades of experience creating and managing some of the country’s largest credit card programs, including deep expertise in key areas such as product development, loyalty, marketing, underwriting, analytics and capital markets. Together, they’ve combined their expertise to offer a solution unlike anything on the market, and that allows broader product distribution. For example, Concerto can approve more card applicants across a broad credit spectrum to ensure increased sales for partners. It also enables best-in-class experiences for customers through an ultra-modern platform full of digital innovations like instant issuance, tokenization and tight API integration.

“There has been an unprecedented level of innovation in the credit industry over the last decade. As our world continues to be digitally transformed, so is the more than trillion-dollar U.S. credit industry,” said Dana Stalder, General Partner at Matrix Partners and Concerto board member. “But despite movement in the industry overall, credit card issuing has remained untouched until now. Concerto is completely disrupting this segment to make it something innovative, exciting and rewarding for both organizations and cardholders.”

“Today’s launch is only the beginning,” noted Concerto Co-founder and CEO Daniel Duncan. “Concerto has aggressive plans to deploy our platform across a wide range of markets, where great credit card loyalty programs make sense for our partners and their customers.”

For more information, visit

About Concerto Card Company

Concerto is a next-generation, tech-forward company focused on developing better credit card programs for innovative brands. The company combines creativity with leading-edge technologies and advanced analytics to deliver programs designed to excite customers. The management team has decades of experience creating and managing some of the country’s largest credit card programs. Concerto is backed by Matrix Partners, PayPal Ventures and GoldenTree Asset Management, and its customers include the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds. Concerto is based in Austin, Texas. Learn more at


Leigh Disher

GMK Communications for Concerto


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