OnDeck has priced its IPO at $20 (above its planned $16 to $18 range), raising $200 million by offering 10 million shares. Listing on the NYSE under the symbol ONDK, the online lender uses data aggregation and electronic payment technology to evaluate the financial health of small and medium-sized businesses.
As evidenced by the successes of OnDeck and Lending Club, VC investment in online lending companies has exploded in 2014. According to the PitchBook Platform, the year has seen nearly $1.5 billion invested into the space, a substantial 7x increase to the capital raised in 2013. This sudden rise in VC interest may spawn additional exit opportunities in the near future, as a handful of other companies have landed sizable (and late stage) financings. Here are some of the other notable online lending platforms to get funding so far in 2014: