#DigitalBanking / Enova to Acquire OnDeck to Create a Leading FinTech Company Serving Consumers and Small Businesses

This transaction brings together two complementary, market-leading businesses combining world-class capabilities in consumer and small business online lending. Enova and OnDeck are both innovators that have helped revolutionize online lending, using data and advanced analytics to simplify and expand access to financial services for underserved borrowers…

Enova will add the OnDeck brand, products and services to its existing industry-leading portfolio to create a combined company with significant scale and diverse product offerings in consumer and small business market segments that banks… have difficulty serving…

[CEO, Enova:] “This strategic transaction, which brings together two FinTech leaders, is a great opportunity for customers, employees and shareholders of both companies… Acquiring a premier online small business lender and its ODX bank platform, and welcoming its innovative and talented team to Enova, will increase our scale and resources…”

https://www.prnewswire.com/news-releases/enova-to-acquire-ondeck-to-create-a-leading-fintech-company-serving-consumers-and-small-businesses-301101550.html