Ondeck is a technology-enabled financial platform that provides loan financing to small- and medium-sized businesses.
OnDeck uses proprietary software to aggregate data about a business’ operations, which is processed by an algorithm that determines loan eligibility. In 2007, the company introduced its short-term loan product and made its first loan, and by early 2010, the company had made over $50M in loans to small businesses in the U.S.
OnDeck was founded in 2006 by Mitch Jacobs and is based in New York City, United States.
OnDeck has a raised a Total amount of $720M in 10 Funding Rounds. The company received $200M from Credit Suisse in Post-IPO Debt funding on Dec 9, 2016. Ondeck's lead Investor includes Credit Suisse, Tiger Global Management, IVP etc.
As of August 2017, OnDeck has made over $7 billion in loans to small businesses in the US, Canada, and Australia.