OnDeck Capital, a US-based platform for small business loans, filed for a $150m initial public offering on the New York Stock Exchange on Monday.
OnDesk operates a platform that provides term loans and credit lines to small businesses, using big data to analyse their creditworthiness. It had raised approximately $97m in funding, as of May 2013.
The company’s shareholders include Sapphire Ventures, the corporate venturing unit of software producer SAP, which holds a 10.1% stake, and Google Ventures, the internet company’s corporate venturing unit, which owns 6.3%.
RRE Ventures is OnDeck’s largest shareholder, owning a 15.4% stake, while other notable shareholders include Institutional Venture Partners (14.4%), Village Ventures (10.8%), First Round Capital (6.5%) and Tiger Global (6%).
OnDeck recorded revenues of $107.6m for the first nine months of 2014, up from $42.1m the year before. It cut its net loss from $18.7m to $14.4m in the same period.
Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith, J.P. Morgan Securities, Deutsche Bank Securities and Jefferies are the joint bookrunners for the IPO. Raymond James & Associates, Stifel, Nicolaus & Company and Needham & Company are also serving as underwriters.