On Deck Capital, Inc., a New York, NY-based technology platform that connects businesses with capital, has secured $15m in a series C financing.
The round, which was led by SAP Ventures, is intended to enable the company to expand its technology.
Founded by Chairman & CEO Mitch Jacobs, On Deck has created a proprietary platform that focuses on evaluating the financial health of “Main Street” businesses and delivering capital to small companies that are traditionally underserved by bank loans.
In conjunction with the funding, On SAP Ventures Managing Director David Hartwig will join the company’s board of directors.
Launched in 2006, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small businesses and connect them with capital. The company is backed by some of the nation’s leading venture capital firms, including Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures.
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