Results 1 to 7 of 7
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07-28-2020, 04:49 PM #1
- Join Date
- Jul 2013
- Posts
- 352
OnDeck Purchased By Enova
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07-30-2020, 11:39 AM #2
- Join Date
- Feb 2018
- Posts
- 1,349
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.
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07-30-2020, 06:26 PM #3
- Join Date
- Apr 2019
- Posts
- 318
marcus called this scenario 2 years ago. what a genius that man was....someone bring up that post...
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07-30-2020, 08:19 PM #4
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 474
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07-31-2020, 01:00 PM #5
- Join Date
- Apr 2019
- Location
- Arlington, New York
- Posts
- 28
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.
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08-31-2020, 12:51 PM #6
- Join Date
- Feb 2017
- Posts
- 3,425
I guess OnDeck has products beyond lending that it was worth buying them for.....
https://debanked.com/2020/08/odx-int...king-platform/
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08-31-2020, 04:05 PM #7
- Join Date
- May 2018
- Posts
- 53
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.
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