OnDeck is a company.
OnDeck has raised $190.0M across 6 funding rounds.
Key people at OnDeck.
OnDeck has raised $190.0M in total across 6 funding rounds.
OnDeck has raised $190.0M in total across 6 funding rounds.
OnDeck's investors include .406 Ventures, Bond, Byers Capital, Caffeinated Capital, Cowboy Ventures, Felicis Ventures, First Round Capital, GPO Fund, Greylock, GV, iNovia Capital, IVP.
Key people at OnDeck.
OnDeck Capital is a technology-driven online lending platform that provides fast, flexible small business loans, lines of credit, and equipment financing to underserved Main Street businesses across the U.S., Canada, and Australia.[1][2][3][7] It serves over 150,000 businesses in more than 700 industries with loans ranging from $5,000 to $500,000, terms of 3-18 months, and funding often delivered within 24 hours, solving the problem of slow, inefficient traditional bank lending by using proprietary data analytics focused on business performance rather than personal credit.[1][3][6][7] OnDeck has deployed over $15 billion in capital since inception, earning an A+ Better Business Bureau rating and high customer satisfaction, while emphasizing transparency through tools like the SMART Box disclosure.[3][7]
Founded in 2006 by Mitch Jacobs and headquartered in New York City, OnDeck launched its first short-term loan product in 2007 with backing from prominent venture firms including First Round Capital, Khosla Ventures, and Google Ventures.[2][3] Jacobs aimed to revolutionize small business lending by leveraging data aggregation and algorithms for rapid decisions, reaching $50 million in loans by early 2010.[2] Jacobs departed in 2012, succeeded by CEO Noah Breslow, under whom OnDeck went public via IPO on the NYSE (symbol: ONDK) in 2014, raising $230 million, and expanded internationally to Canada and Australia in 2015.[2][3] The company later became part of Enova International (NYSE: ENVA) and grew its footprint with offices in Chicago, Denver, and South Jordan.[2][7]
OnDeck rides the fintech wave of digital disruption in lending, addressing a $232 billion U.S. market of small business loans under $250,000 that banks historically underserved due to high costs and slow processes.[6] Its timing capitalized on post-2008 credit crunch and big data advancements, pioneering online small business lending and influencing ecosystem transparency via ILPA standards adopted in multiple countries.[3] By enabling rapid capital for growth—linked to 20,000+ jobs and billions in economic impact—OnDeck empowers local economies and inspires bank-fintech partnerships through ODX, transforming money flows for small businesses amid rising demand for on-demand finance.[5][6]
OnDeck's integration into Enova positions it to scale further with embedded finance trends, potentially expanding product suites like variable pay and AI-driven personalization for global small businesses.[7] Rising economic volatility and digital adoption will favor its speed and data edge, evolving its influence toward comprehensive lifecycle platforms that blend lending with advisory services. As the proven leader in accessible capital, OnDeck remains poised to power Main Street's resilience, fulfilling its founding mission of capital on demand.[1][3]
OnDeck has raised $190.0M across 6 funding rounds. Most recently, it raised $77.0M Series E in March 2014.
