US Financial technology firm to acquire SME Lender OnDeck
Fintecbuzz31 Jul, 2020Finance
Enova, the financial technology services company has announced that it is going to acquire OnDeck, the SME lender, in a transaction that is approximately valued at $ 90 million. The fintech firm based out of Chicago, Enova owns several lending, credit, and analytics brands that specialize in non-prime customers as well as a small business, and has gotten into a definitive agreement of acquiring all the shares of NYSE-listed OnDeck, that are outstanding. The SME lender is a 55% shareholder of OnDeck Australia.
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