Last week small businesses borrowing solutions company, On Deck Capital, announced that it has secured $42 million in funding.
On Deck’s Series D financing round was led by a new investor, Institutional Venture Partners. Existing investors also participated:
- RRE Ventures
- SAP Ventures
- First Round Capital
This recent round brings the company’s total funding to $96 million.
The New York-based company also released some stats:
- Deployed $400 million in loans to date
- Tripled its distribution partners to 1,500 nationwide
- From 2008 to 2011, the company saw 12X revenue growth
In conjunction with this financing, Sandy Miller, IVP General Partner will join On Deck’s board of directors.
On Deck Capital demoed at FinovateSpring 2012.