Leading Small Business Technology Platform Ranks #10 of Fastest-Growing Companies
NEW YORK, Oct. 9, 2013 /PRNewswire/ -- OnDeck ([http://www.ondeck.com/] www.ondeck.com), the technology-powered Main Street lender, announced today it has been ranked number 10 on Crain's New York Business 2013 Fast 50 list. The Crain's Fast 50 serves as an annual spotlight on New York's most successful and innovative companies that seek out new markets and devise growth strategies to stay ahead of the competition.
"We're thrilled to be named to the Crain's Fast 50, which reflects OnDeck's commitment to meeting the financial needs of small businesses nationwide," said Noah Breslow, chief executive officer, OnDeck. "Our first priority has always been, and will continue to be, to use technology to make capital-on-demand a reality for this important sector of the economy."
OnDeck's industry leading technology is transforming the small business borrowing process to make it simple, fast and friction-free. Using big data, OnDeck's innovative and proprietary technology platform harnesses readily available digital information to determine the creditworthiness of small businesses based on their business financials. With their disruptive technology, OnDeck is able to offer loans from $5,000 to $250,000, make credit decisions in minutes and deliver funding in as fast as 24 hours.
OnDeck has experienced a 100 percent growth surge over the past 12 months. Headquartered in New York City, the company currently employs over 225 people nationwide with regional offices in Denver, Colorado and Arlington, Virginia. OnDeck is backed by some of the nation's leading venture capital firms, including Google Ventures and Institutional Venture Partners.
A full list and a company profile of each winner can be viewed online at http://www.crainsnewyork.com/features/fast50. The list includes both privately held companies, and for the first time, publicly-traded firms.
To learn more about OnDeck, please visit: www.ondeck.com.
Launched in 2007, OnDeck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the OnDeck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
OnDeck has deployed over $600 million in capital to tens of thousands of businesses across 700 different industries. The company is growing at greater than 100 percent annually, and was recently named to Forbes' 100 Most Promising Companies in America list and the Inc. 500/5000 for a second year in a row. The company also has earned an A+ rating with the Better Business Bureau. OnDeck is financed by some of the nation's leading venture capital firms, including Google Ventures, SAP Ventures, RRE Ventures and Institutional Venture Partners.
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