On Deck Secures $42 Million Series D Financing Led By Institutional Venture Partners
"Small and medium sized businesses are the lifeblood of the US economy and we are in an environment where 84% of SMBs looking for financing report having unmet financing needs," said Eric Liaw, principal at IVP. "IVP is excited to partner with On Deck to help provide thousands of small and medium sized business owners with the capital they need to invest in their operations, grow their businesses, and create new jobs."
To continue to manage its explosive growth, On Deck recently opened regional offices in Atlanta, Sarasota, Chicago and Los Angeles. In 2013, the company will open a western region office in Denver, and move into larger office spaces for its New York City headquarters and Arlington, VA offices.
Victory Park Securities acted as financial advisor to On Deck.
To learn more about On Deck, please visit
www.ondeckcapital.com or follow On Deck on Twitter: @OnDeckCapital. If you are interested in speaking with CEO
Noah Breslow regarding small business in America, please contact
About On Deck Launched in 2007, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The On Deck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
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