Tagged: ondeck

Enova Announces Completion of OnDeck Acquisition

    Enova (NYSE:ENVA) announced on Tuesday it has officially completed the acquisition of online lender OnDeck (NYSE:ONDK). Enova revealed in July 2020 it had purchased OnDeck for $1.38 a share, including $0.12 in cash. As previously reported, Enova is a provider of online financial… Read More

OnDeck Subsidiary ODX Offers New Digital Account Services for Online Banking

ODX, a subsidiary of OnDeck (NYSE: ONDK) – a Fintech that was recently purchased by Enova, has announced the launch of a “Digital Account Opening” (DAO) experience, adding to its suite of services offered by the company.  The DAO service is designed to streamline onboarding… Read More

OnDeck Pairs with Enova: Fintech Consolidation Expected to Continue

Earlier this week, OnDeck (NYSE:ONDK) announced it was being acquired. For months, there had been rumors circulating that OnDeck had put itself up for sale. During Q1, OnDeck CEO Noah Breslow said during its earnings call that OnDeck was working with its board of directors… Read More

OnDeck Shares Hold Gain Following Enova’s Acquisition Announcement

OnDeck (NYSE:ONDK) announced it was being acquired by Enova yesterday. The news of the acquisition should not have come as much of a surprise as rumors have been circulating for some time now. In May, Crowdfund Insider reported on these rumblings while referencing previous comments… Read More

OnDeck Acquired by Enova for $1.38 a Share

Enova (NYSE:ENVA) has acquired online lender OnDeck (NYSE:ONDK) for $1.38 a share including $0.12 in cash, according to a corporate release. Shares in OnDeck jumped in after-hours trading moving from around $0.85/share to around $1.22/share. Under the terms of the agreement, OnDeck shareholders will receive… Read More

Fintech Insider Says Online Lenders are Struggling Due to US Government Programs Supporting Businesses During COVID-19

Yesterday, Crowdfund Insider reported on layoffs at OnDeck (NYSE:ONDK) – an SME focused online lender. Like many online lenders, COVID-19 has hit this sector of Fintech hard. Looking for additional insight into the challenges the industry CI reached out to an industry insider for their perspective… Read More

OnDeck Laying Off Employees – Report

OnDeck (NYSE:ONDK), an online lender serving SMEs, is said to be laying off employees in the midst of a challenging market due largely to the COVID-19 crisis. There have been multiple reports regarding OnDeck’s struggle to keep the Fintech afloat. Last June, OnDeck received a… Read More

OnDeck Receives NYSE Notice Regarding Price Per Share of Under $1

OnDeck (NYSE: ONDK), an online lender serving SMEs, has received a notice from the New York Stock Exchange (NYSE) as the company does not meet the continued listing standard that requires OnDeck to maintain a minimum average closing price of $1.00 per share over a… Read More

Back in the Game: OnDeck to Restart Lending in June

OnDeck (NYSE:ONDK), an online lender supporting SMEs, is planning to start originating loans at some point in June. This is according to a recent 8-K filed by the company. Last month, it was reported that OnDeck had hit the pause button on lending as it… Read More

OnDeck May be Sold in “Fire Sale” – Report

There has been a lot of chatter regarding the fate of Fintech lenders in the past few weeks. The COVID-19 pandemic has hammered online lenders as sources of capital have shied away and some borrowers have backed off. Existing borrowers are not always making payments… Read More

Online SME Lender OnDeck Approved for CARES Act PPP Loans

OnDeck (NYSE: ONDK), an online SME lender, has been approved as a Small Business Administration (SBA) lender to facilitate the Paycheck Protection Program (PPP), part of the CARES Act Coronavirus assistance program. Under the PPP, OnDeck will be processing and servicing loans on behalf of… Read More

OnDeck Appoints Linda Tan as New Head of Internal Audit

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced he has appointed Linda Tan as its new Head of Internal Audit. OnDeck reported that Tan will oversee its Internal Audit team and deliver independent, objective assurance and advisory audit services that align with… Read More

OnDeck Appoints Scott Totman as New Chief Product & Technology Officer

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced it has appointed Scott Totman as the company’s Chief Product and Technology Officer. OndDeck reported that Totman will oversee its engineering, product, and design organizations with a focus on building the next generation of… Read More

OnDeck: Cloud Banking Platform Mambu Chosen to Offer Servicing Tech for ODX’s Online Lending Platform

Mambu, a cloud-based banking solution, revealed on December 12 that it had been chosen by ODX, an established provider of digital lending products for small businesses and a subsidiary of OnDeck (NYSE:ONDK), in order to provide servicing technology for ODX’s digital lending platform. The steady… Read More

OnDeck’s Latest Survey Reveals: Economy is Top Concern for Small Businesses Ahead of 2020 Election

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Friday its latest survey reveals that the economy is a top concern for small businesses ahead of next year’s presidential election. According to OnDeck, the survey is the first in a series that the… Read More

Fintech OnDeck Whiffs, Shares Get Hammered as JP Morgan Stops Using Platform, OnDeck Decides to Pursue Bank Charter

Earlier today before market open, online lender Ondeck (NYSE:ONDK) posted Q2 earnings. Ondeck said that it generated net income of $4.3 million, adjusted net income of $6.9 million and gross revenue of $110.2 million. Second-quarter results were inclusive of the company’s business combination with Evolocity… Read More

OnDeck Appoints Lonnie Hayes as New Head of Sales & Strategy at ODX

OnDeck (NYSE: ONDK), a small business online lending platform, announced on Wednesday it has appointed Lonnie Hayes as the new head of sales and strategy for ODX, a wholly-owned subsidiary of OnDeck that assists banks with streamlining and digitizing small business credit origination. According to… Read More

OnDeck Teams Up With Upserve For Restaurant Financing

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… Read More

OnDeck Canada Announces Small Business Partnership With Coast Capital Savings

OnDeck Canada announced last week it has formed a new partnership with Canadian credit union, Coast Capital Savings, to accelerate online lending to Coast Capital small business members. According to OnDeck Canada, Coast Capital Savings small business members may now apply for term loan financing… Read More

OnDeck Announces “Summer of Small Business” National Campaign

OnDeck (NYSE: ONDK), a small business online lending platform, recently announced the launch of its new national “Summer of Small Business” campaign. According to OnDeck, the campaign spotlights the hard work and achievements of small business owners and as part of the event, CEO of… Read More

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