Mitch Jacobs $100 million
This round of funding will expand On Deck’s industry-changing technology and bolster its nationwide ability to connect Main Street to capital.
Mitch Jacobs $100 million dollars
SAP Ventures is an information technology investor, focusing on industry-leading enterprise products and services. To date, SAP Ventures has invested in more than 100 companies, including LinkedIn, WebEx, MySQL and Red Hat Software.
David Hartwig has
"On Deck’s combination of proven technology with its dedication to solving the lending crisis on Main Street has fueled its rapid growth," said SAP Ventures’ Hartwig. "Our investment will help the company continue to grow towards its goal of fundamentally changing the way capital is delivered to Main Street businesses."
James D. Robinson III
About On Deck
Launched in 2006, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small businesses and to efficiently deliver capital to a market underserved by traditional bank loans. Through the On Deck platform, thousands of small businesses connect with capital to meet their daily operating and long term goals. The company’s proprietary platform looks deeper into the health of small businesses, focusing on the overall business performance, rather than the owner’s personal credit history. The On Deck system also provides a critically needed mechanism for commercial institutions to efficiently reach and serve the historically underserved Main Street small businesses market.
About SAP Ventures
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SOURCE On Deck Capital