On Deck Jumps in Debut After $200 Million IPO of Web Lender
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On Deck Capital Inc., a Web-based lending platform for small businesses, surged in its trading debut after raising $200 million in an initial public offering.
On Deck, which uses software to assess a business’s creditworthiness before lending money, jumped 40 percent to $27.98, giving the New York-based company a market value of $1.85 billion.