May 1 2013, 8:59am CDT | by Sumayah Aamir
On Deck has officially announced today that it get $17M funds from Google Ventures for the expansion of their Series D. Peter Thiel, PayPal co-founder, is also giving $59 million to Series D for Industry Ventures as a venture capitalist.
possesses a talent pool and owns capital assets that would give the other small fish an inferiority complex. It also produces new stuff at a fast pace that beats the competition with one hand tied behind its back. The developing face of technology had led many to concur with the obvious fact staring them in the face: that On Deck is on to something. A pioneer in soft loans to small businesses, On Deck is definitely on a wave that will take it to the top. Its creative strategies have defeated other traditional lenders with relish. And success is its middle name.
Up until now, this enormous enterprise has lent over $450 million in loans to Main Street, which is the driving force behind the United States economy. The surveys they make to assess the potential of a business client are painstakingly extensive. After a whole lot of data crunching, online commercial activity and social media management, the organization makes its final decision and then acts on it without much further ado. The operation is so fast that it can take place within minutes and begin the transfer of funds at a day’s notice. Already, millions of businesses around America have sought the services of On Deck. And they do not regret the fateful decision they have made. For they have made a wise choice indeed.
The numbers of family-owned businesses that have warmed their hands at the hearth of On Deck are too many to list. Now, Series D financing will be looked into by this gigantic profit scheme. Google Ventures along with PayPal co-founder, Peter Thiel, have carried this plan forward into its activation phase. This is like a fresh rush of blood to the head and will invigorate every pore of the organization. However, it’s not all sugar and spice and everything nice. The competition is beginning to rear its ugly head and soon there will be a financial fight to the finish. All we can say is may the best firm win.
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