This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Google Looks to Profit From Alternative Lending

"The resiliency of our economy heavily relies on a healthy financing environment for small business owners who are very focused on building their enterprise, and alternatives for getting financing are limited and very cumbersome. OnDeck aims to make this process fast and as lightweight as possible, allowing entrepreneurs to focus on creating and selling their products and services," Farris said in a follow-up statement to TheStreet.

The Google Venture investment brings On Deck's Series D financing to a total of $59 million. The company announced in February that it had raised $42 million in a round led by Institutional Venture Partners. On Deck had previously secured a credit facility from Goldman Sachs (GS) and Fortress Investment Group (FIG) in August 2012.

Google Ventures, formed in 2009, has 160 companies in its portfolio. It says it's mission is to provide "seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of stages."

The fund has sold a number of its portfolio companies, including acquisitions by Facebook (FB), Yahoo! (YHOO), AOL (AOL) and even, Google.

It's also had a few successful IPOs, including HomeAway (AWAY - Get Report) and Silver Spring Networks (SSNI - Get Report).

A Google Ventures spokeswoman said that the fund is not a "typical corporate strategic fund," meaning that it invests for financial return as opposed to funneling ideas and companies up to the parent company.

Still it's got to be a strong vote of confidence for both of these companies and for the alternative lending space in general that Google is now behind them.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

>To submit a news tip, email: tips@thestreet.com.

RELATED STORIES:







Follow TheStreet on Twitter and become a fan on Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AWAY $28.50 0.00%
GOOG $540.11 0.00%
SSNI $13.14 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs