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VC-backed small biz lender OnDeck debuts IPO

New York City-based small business lender OnDeck has raised $200 million for its IPO after pricing its 10 million shares at $20 per share. The stock began trading Wednesday on the NYSE under the ticker symbol “ONDK.”

Morgan Stanley and BofA Merrill Lynch are serving as lead underwriters.

Last March, OnDeck raised $77 million in a round led by Tiger Global. Other investors in this round were Institutional Venture Partners, RRE Ventures, SAP Ventures, Google Ventures, First Round Capital, Industry Ventures and Peter Thiel.

OnDeck launched in 2007 and is currently being helmed by CEO Noah Breslow.

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