US-based small business loans company On Deck Capital extended its $15m January series C funding by raising an additional $4m from the US-based investment firm SF Capital Group. The January-dated funding was led by SAP Ventures, the corporate venturing unit of Germany-based software conglomerate SAP.
Other backers of On Deck are venture capital firms RRE Ventures Contour Ventures, First Round Capital, Khosla Ventures and Village Ventures, all of whom had participated in On Deck’s series A and B rounds. The company has raised $38m venture funding in total, a spokesman said.
Launched in 2006, One Deck provides loans to small businesses, using data aggregation to evaluate their overall business performance, and investing accordingly. The money will be used to support the continuous growth of On Deck’s customer base.