After we closed our Series D back in February, we had some additional interest from other equity investors. With On Deck growing at a rapid rate of 100% in the past year, several investors stood apart as being really valuable partners to work with as we scale.
We’re excited and humbled to officially announce a $17 million expansion to our Series D led by Google Ventures (the venture capital arm of Google), with participation from Peter Thiel (PayPal co-founder and one of the first investors in Facebook) and Industry Ventures. This is a phenomenal group of new investors that further cements our position as a leader in the world of tech-enabled finance.
So, what does this mean for the future of On Deck?
Simply put, it means easier, faster, and more capital for more business owners nationwide. This add-on financing will provide us with the resources to further our mission of helping small businesses grow – through better products and a superlative customer experience. Our goal is to power every U.S. small business loan, and we can’t wait for what’s to come.