https://www.prnewswire.com/news-rele...301101550.html
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if you study all the mca companies who get acquired, there is a common theme. they were all free standing mca providers only with one product essentially. the companies who buy them are multi product focused and mca didnt make up a large % of their revenue. perhaps, the reality is, a single standing mca is not the way to go anymore with so much competition and other variables happening in the market unless you are ok remaining a boutique funder and that's all you want to be. this sale will have implications to future mca's looking to exit as well.
marcus called this scenario 2 years ago. what a genius that man was....someone bring up that post...
There is no way in 2020 an MCA funder or brokerage firm can do just MCAs and expect to still be in the finance world 5 years from now.
I guess OnDeck has products beyond lending that it was worth buying them for.....
https://debanked.com/2020/08/odx-int...king-platform/
I'm curious what value, if any, Enova put on some these ancillary products. Back in April, Voce Capital wrote an angry open letter to On Deck leadership (https://www.businesswire.com/news/ho...rs-Vote-OnDeck), part of which argued they were getting too far away from their core competencies. Pursuits such as a bank charter, equipment financing, and ODX where distractions that were hurting the bottom line.