On Deck Capital Raises $42 Million of Series D Funding
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Arlington, Virginia – On Deck Capital, an online consulting service provider which helps leverage the creditworthiness of small businesses through online banking and ecommerce has raised $42 million of series D funding from top venture capital firms led by led by Institutional Venture Partners and backed by previous investors RRE Ventures, SAP Ventures and First Round Capital.
“Small and medium sized businesses are the lifeblood of the U.S. economy,” says IVP Principal Eric Liaw. “We are in an environment where 84 percent of SMBs looking for financing report unmet financing needs.” There’s plenty of opportunity on Main Street for On Deck, but that also means there’s a lot of work left to be done.
The new funding will be used in raising capital for small businesses this year.
Funding Total: $42,000,000
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|Investors: Institutional Venture Partners, RRE Ventures, SAP Ventures , First Round Capital|