Digital non-bank sees originations spike

OnDeck, a digital non-bank lender that specialises in providing financing to small businesses, has thrived since being bought out by members of its C-suite last year.

CEO Cameron Poolman, CFO Jerry Yohananov and COO Charlene Batson now own 58% of the company after buying shares from US-based Enova International.

Since then, the company has seen significant growth – loan originations were up 43% in the first six months since the buyout compared to the previous half-year.