On Deck

On Deck

Startup accelerator for early-stage founders

Overview

On Deck runs a program called ODF that helps people navigate the earliest stages of starting a company. Participants join a cohort of 80 to 100 peers to collaborate on finding co-founders, validating product ideas, and deciding on funding strategies. Unlike traditional accelerators that focus on established teams, On Deck specializes in the "exploration stage" by providing a community-driven environment to solve the initial hurdles of entrepreneurship. The company's goal is to help more people launch successful startups by providing the network and knowledge needed to turn an idea into a functioning business.

About On Deck

Simplify's Rating
Why On Deck is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consulting

Education

Company Size

1,001-5,000

Company Stage

Series B

Total Funding

$59.8M

Headquarters

Los Angeles, California

Founded

2019

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Simplify's Take

What believers are saying

  • Enova said Q2 2026 SMB originations hit $1.6 billion, up 29% year-over-year.
  • OnDeck.com raised term loans to $400K in July 2026, expanding average ticket sizes.
  • Small-business demand for non-bank capital stayed strong in 2026, with 74% preferring alternatives.

What critics are saying

  • Enova’s SMB delinquency rose to 7.4% in June 2026, pressuring OnDeck losses.
  • OnDeck cut staff in May 2022 and again in August 2022, signaling fragile economics.
  • Banks and non-bank lenders copy OnDeck’s speed, compressing margins and customer acquisition by 2026.

What makes On Deck unique

  • OnDeck, part of Enova, pioneered real-time small-business lending since 2006.
  • Its direct digital underwriting funds borrowers in minutes, with same-day funding in 2026.
  • OnDeck’s Q1 2026 report spans 3.69 million applications, sharpening pricing and risk selection.

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Funding

Total Funding

$59.8M

Above

Industry Average

Funded Over

0 Rounds

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