OnDeck Acquires Evolocity in Canada

OnDeck is combining their Canadian business with Evolocity Financial Group which is a Montreal-based online small business lender; the combined entity is majority owned by OnDeck and will operate under OnDeck Canada; Noah Breslow, CEO of OnDeck stated, “The closing of this transaction signals a new era of online lending innovation on behalf of Canada’s small businesses…As one of Canada’s leading online lenders to the crucial small business sector, we are well-positioned to provide financing options that will benefit Canadian small business owners from coast to coast.” Source