OnDeck has announced a new partnership with Wex that will provide credit financing options for Wex's customers; Wex currently provides payment solutions and credit services for corporations and small businesses; the partnership will offer OnDeck's loans of up to $500,000 and credit lines of up to $100,000 for Wex's customers. Source
Today OnDeck hosted their Q4 2018 earnings call and provided an update across all aspects of their business; the company...
The marketplace lender has extended the maturity of its credit facility with Deutsche Bank to March 2019; the revised terms also add an additional $52 million to the credit facility; in comments regarding the revised terms, Howard Katzenberg, chief financial officer of OnDeck said, "The closing of this transaction reflects a continued ability to execute our financing strategy for 2017, which includes extending debt maturities and creating additional funding capacity for future loan growth." Source
OnDeck shared a mid-quarter update to investors and the outlook isn’t as bleak as previously thought by many; OnDeck has...
OnDeck reported first quarter earnings yesterday and total originations dipped for the quarter coming in at $636 million compared to...
OnDeck has announced that it will be presenting at the J.P. Morgan 2016 Fintech & Specialty Finance Forum on November 30 in New York City; Noah Breslow, chief executive officer, and Howard Katzenberg, chief financial officer, will be the featured speakers; the event provides an opportunity for fintech and specialty finance companies to present on the competitive advantages of their firm for a range of corporate leaders, financial sponsors and institutional investors. Source
OnDeck lost $59mn in Q1 2020 as their streak of seven straight quarters of profitability came to an end; the...
According to the WSJ, OneMain is looking to sell and is in advanced discussions with multiple parties; the deal could be worth $4 billion or more; Most of OneMain’s personal and car loans are to people with credit scores under 660; the company has 1,700 branches and 2.2 million customers. Source
OneMain has rejected an unsolicited exchange offer from IEG Holdings; on January 6, 2017, IEG submitted an offer to buy shares of OneMain, a consumer finance company offering personal loans; IEG is an online consumer loan provider with stock trading on an over the counter market exchange; OneMain says the offer does not reflect the value of the company or the best interests of its shareholders. Source
The round was led by Softbank Investment and Salesforce Ventures; the company plans to use the funds to further use...