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Enova Buys OnDeck for $90MM

Enova International entered into a definitive agreement to acquire all outstanding shares of OnDeck in a cash and stock transaction valued at approximately $90 million. read more

OnDeck Names Stroff Chief People Officer

Online lender OnDeck appointed Deb Stroff chief people officer. Stroff will be responsible for leading all aspects of people strategy, including overseeing organizational design, talent management, recruiting, leadership development and learning. read more

OnDeck Reports $110.2MM Gross Revenue for Q1/2019, Up 22% Y/Y

Online lender OnDeck reported first quarter 2019 net income of $5.9 million, a decrease from the $14 million net income from Q4/2018, primarily due to higher loan loss provision, higher operating expenses and an accrual for income taxes. read more

OnDeck Offers Same Day Funding to Small Business Customers

OnDeck will offer to fund and debit customer bank accounts with Same Day ACH transfers, eliminating a decades long pain point for small business owners accustomed to the traditional ACH transfer process, which can take multiple days and lacks certainty on when the transactions will hit bank accounts. read more

OnDeck Q2 Originations Up 26% Y/Y, Assets Exceed $1B

OnDeck reported Q2/18 originations of $587 million, an increase of 26% from a year ago, with growth in both term loans and lines of credit. Total assets increased from $996 million at year end in 2017 to $1,072 million as of June 30, 2018. read more

OnDeck Reports Lower Q1 Loss on Substantial Drop in Provision Charges

OnDeck reported a Q1/18 net loss of $1.9 million, which was down from a net loss of $11.1 million in Q1/17 as provision charges were $9.9 million lower compared to a year earlier. read more

OnDeck Names CIT Veteran Brause CFO

OnDeck appointed Kenneth A. Brause CFO. Brause previously worked for CIT as treasurer. Prior to that, he led the North America Banking group, including oversight of the Equipment Finance division. read more

OnDeck Swings to Q4 Profit on Lower Provision Charges

OnDeck reported Q4/17 net income of $5.1 million compared to a net loss of $35.9 million for the same quarter in 2016. Q4/17 provision charges of $34.4 million compared to $55.7 million for the same quarter a year earlier. read more

OnDeck Adds Former GE Capital, SunTrust Executives to Finance Team

OnDeck hired Kelly Merrill and Erich Wust as SVP of Finance and SVP of Portfolio Management, respectively. The former was previously with GE Capital, the latter with SunTrust Bank. read more

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