Does Google Want to Be a Small Business Lender?
Google Ventures’ investment in On Deck follows the $42 million Series D the lender raised in February. It’s intended to help the company, which made its first loan in 2007, continue to expand its business and introduce new lending products.
If that means leveraging Google’s relationships with small business owners, Chief Executive Officer Noah Breslow didn’t let that on when I visited On Deck’s new 22,000-square-foot offices earlier this week. He did say that Google Ventures would bring “a lot of functional skills” as the company seeks to build on the $450 million in loans it expects to make this year.