Chase Coleman and Feroz Dewan's hedge fund Tiger Global has filed a 13G with the SEC regarding On Deck Capital (ONDK). Per the filing, Tiger Global now owns 9.2% of the company with over 6,333,004 shares.
This is a newly disclosed equity stake and the filing was made due to activity on December 17th as the company recently completed its initial public offering (IPO). It priced at $20 and now trades around $22.
Per Google Finance, On Deck Capital is "an online platform for small business lending. Enabled by its technology and analytics, the Company aggregates and analyzes data points from dynamic, disparate data sources to assess the creditworthiness of small businesses. Small businesses can apply for a term loan or line of credit on its Website and, using its OnDeck Score, it can make a funding decision immediately and transfer funds the same day."
You can view other Tiger Global portfolio activity here.
Tuesday, December 30, 2014
Tiger Global Discloses On Deck Capital Position
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