OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it has formed a new partnership with Upserve, a restaurant management platform, to provide Upserve’s restaurant customers with online financing options from its website. According to OnDeck, more than 10,000 restaurants currently use Upserve’s restaurant management platform and Point of Sales (POS) software to manage relationships with over 57 million active diners.
“Today’s announcement opens up access for OnDeck to customers of one of the nation’s leading restaurant management platforms. For Upserve, the alliance with OnDeck enables them to provide a speedy and proven online financing option to its customers that other restaurant management platforms currently lack.”
While sharing more details about the partnership, Andrea Gellert, Chief Revenue Officer of OnDeck, stated:
“Upserve is a leading restaurant management platform with a compelling mission of providing restaurants with the best financial management capabilities and products. Since day one at OnDeck, we have had a similar mission to serve the restaurant industry with world-class online lending options. Working directly with Upserve, we can now help restaurants when they are most in need. Our partnership is a game changer for small business financing in the restaurant and hospitality industry.”
Andrea Kayal, Chief Marketing Officer of Upserve, went on to add:
“The partnership with OnDeck will allow us to offer tailored credit offerings to our restaurant customers whenever they need them, including capital improvements or opening a new location. We are constantly innovating on behalf of our customers by providing access to meaningful products and services that are a natural extension of our core offering. Today’s partnership with OnDeck to enable speedy financing online will extend Upserve’s position as a leading restaurant management platform.”