Wave, a fintech provider of financial services and software for small businesses, has partnered with online lender OnDeck, to launch “Lending by Wave”. The new service will allow Wave to offer OnDeck business loans and line of credit products to its customer base which is estimated at 2.3 million customers globally. Under this partnership, Wave will leverage OnDeck’s online small business lending platform to streamline and automate the business borrowing experience, allowing customers to access OnDeck loans within the Wave ecosystem. The new service will be available in Canada and the US.
Under this partnership, Wave will leverage OnDeck’s online small business lending platform to streamline and automate the business borrowing experience.
CEO and co-founder of Wave, Kirk Simpson said, “Cash flow and access to capital are essential for small businesses to grow, but often hard to get, because traditional financial institutions can’t serve this segment effectively. Our partnership with OnDeck reinforces Wave’s commitment to improving access to a full scope of small business financial services, and provides small business owners a better option than going to a bank for the funds they need to succeed”.