In April 2019 OnDeck finalized its purchase of Canada’s leading small business lender Evolocity Financial Group, in which Seer had a significant minority interest. Evolocity’s expertise in Canadian underwriting practices and OnDeck’s marketing and international online lending experience provide small businesses with quick access to working capital.
OnDeck was founded in 2007 and currently employs more than 70,000 people. The company is listed on the New York Stock Exchange and is the leader in online lending to small business. Seer Capital owns a non-controlling stake in OnDeck’s subsidiary, OnDeck Canada.
* Seer is a diversified, credit-focused investment firm that primarily invests in broadly distributed fixed income instruments. In limited circumstances, Seer has made direct investments in portfolio companies, which are detailed on our website. The individual portfolio companies described represent Seer’s current investments in such security types. These individual portfolio companies do not represent all of the securities purchased, sold, or recommended in Seer’s portfolios, just the portfolio company investments, and the reader should not assume that investments in the securities identified and discussed were or will be profitable.