OnDeck Capital
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| Company type | Public |
|---|---|
| Industry | Finance |
| Genre | Financial Technology |
| Founded | 2007 |
| Founder | Mitch Jacobs |
| Headquarters | |
Key people | Noah Breslow, CEO, James Hobson, COO, Howard Katzenberg, CFO, Andrea Gellert, CMO, Cory Kampfer, Chief Legal Officer, Paul Rosen, Chief Sales Officer |
| Products | Business Loans |
| Revenue | $255M |
| $159M | |
| ($5M) | |
Number of employees | 500-1000 |
| Website | website |
OnDeck Capital is a non-bank small business lender[1] based in New York City, with locations in Denver, Colorado, and Arlington, Virginia.
OnDeck uses proprietary technology and credit models[2] to evaluate the financial health of small businesses.[3] As of April 2016, OnDeck has funded over $4 billion to more than 40,000 small business customers in the US, Australia, and Canada and is publicly traded on the New York Stock Exchange Ticker Symbol: NYSE:ONDK.[4]
OnDeck Capital seeks to extend loans and lines of credit to new small business customers[5] by building strategic partnerships with larger established banks such as JP Morgan Chase and others.
History
Founded in 2006 and headquartered in New York City,[6] the company uses proprietary software to aggregate data about a business’ operations, which is processed by an algorithm that determines loan eligibility. As of 2014, OnDeck had funded more than $1.7 billion in loans [7]
In June 2016 JPMorgan Chase struck a deal[8] with OnDeck Capital to begin offering new types of capital to its small business customers.
References
- ^ Benzinga - June 2016
- ^ Harvard Business School - July 2014
- ^ SEC Filings - March 2016
- ^ Google Finance
- ^ Wall Street Journal - December 2015
- ^ Slade, Hollie. "Small Business Algorithm Lender, OnDeck Raises $77M". Forbes. Retrieved 2016-06-17.
- ^ Small Business Lender OnDeck Raises $200 Million in IPO - CNBC December 2014
- ^ TechCrunch - June 2016