OnDeck Capital cashed in on its IPO Wednesday, adding more fuel to a booming trend of companies providing online platforms that connect lenders with borrowers, as the initial public offering market is ending a big year with a bang. OnDeck (ONDK) raised $200 million, offering 10 million shares at 20, above its estimated range of 16-18. The stock closed at 27.98, up 40%. OnDeck arranges small-business loans via its online platform. Its investors
Small-business lender OnDeck Capital cashed in on its IPO Wednesday. OnDeck (ONDK) priced 10 million shares at 20, above its estimated range of 16 to 18, raising $200 million. In late-morning trading, OnDeck was near 27.80, up 39%, on the stock market today. OnDeck arranges small-business loans through its online platform. Its investors include Google (GOOGL) and SAP (SAP). This is the second IPO in the alternative lending market. Lending Club
The hot IPO of Lending Club has elevated the focus on the emerging market of nonbank alternative lending. Among the leaders in this hot market is OnDeck Capital (ONDK), which provides an online platform for small-business lending. OnDeck is set to make its initial public offering this week. OnDeck plans to raise $170 million by offering 10 million shares at 16 to 18. It will list on the NYSE under the ticker ONDK, looking to price late Tuesday and