As fintech companies start counting their birthdays in the double-digits, both traditional lenders and regulatory bodies have had to accept the world rapid online lending has created. Ken Brause of OnDeck, Eyal Lifshitz of BlueVine and Sebastian Rymarz of Fundbox sat down with ABF Journal to take stock of the past decade or so in the fintech world, discuss some of the changes seen in 2018 and speculate on what the future may hold for the industry.
Small business online lender OnDeck closed an $85 million corporate revolving credit facility. SunTrust Bank and Silicon Valley Bank served as arrangers on the facility, while MB Financial Bank and Congressional Bank joined them as lenders.
Online lender OnDeck closed an AUD$75 million ($55.179 million) asset-backed revolving credit facility with Crédit Suisse and a C$50 million ($37.753 million) asset-backed revolver with Crédit Agricole.
OnDeck appointed Stephen Klimas as the company’s Head of Investor Relations. A 20-year veteran of CIT Group, Klimas will report to OnDeck Chief Financial Officer Ken Brause.