On Deck Further Bolsters Leadership Team With Addition Of Vice President, Capital Markets
Zhengyuan Lu Joins Leading Small Business Technology Platform as a Key Asset in Future Growth
NEW YORK, April 9, 2013 /PRNewswire/ -- On Deck (www.ondeckcapital.com), the technology-powered Main Street lender, announced today that seasoned investment banker, Zhengyuan Lu (known as Lu), has been named Vice President of Capital Markets to optimize and strengthen the company's capital structure. Lu will begin his tenure with On Deck today and will work directly with the company's Chief Financial Officer, Howard Katzenberg.
Lu joins the On Deck team in the midst of the company's rapid growth, bringing 19 years of capital markets experience as an investment banker and portfolio manager. He will coordinate and manage capital markets activities, and develop diversified financing strategies for loans originated through the On Deck platform.
His most recent role was with Gleacher & Company, where he held the position of Managing Director of the Asset Finance Group. He was responsible for the origination and structuring of asset based financing transactions. Previously, Lu served as Managing Director and Head of Structured Products Group at Keefe, Bruyette & Woods where he was in charge of organizing and trading all structured products, as well as a Senior Vice President with Fortis Securities and WestLB AG, where he originated and structured a variety of cash and derivative transactions. Lu was also a Portfolio Manager at PPM America (Asset Management arm of Prudential UK), where he built and managed a multi-billion dollar portfolio involving a wide range of assets.
"Lu's appointment comes during an exciting stage for On Deck, following a milestone year," said Howard Katzenberg, chief financial officer, On Deck. "His nearly two decade track record in a variety of key finance posts is a welcome addition to the team, and will serve the company well as we embark on our next major growth phase."
"I am extremely pleased to be associated with one of the fastest growing lending platforms in the nation, one that is developing technology to fundamentally improve today's lending system," said Lu. "It's an exciting time in the company's history, and I am looking forward to incorporating my expertise to further serve the financing needs of the Main Street market."
Lu holds a B.A. in Economics and Computer Science from Middlebury College, where he was also elected Phi Beta Kappa.
On Deck is the leading technology platform that solves one of the biggest challenges facing the U.S. economy: how to effectively deliver capital to Main Street. On Deck evaluates the financial health of small businesses based on factors such as cash flow and business credit data, rather than the traditional benchmark of the personal credit score. The On Deck platform can identify creditworthy businesses where others cannot, and to date has delivered over $400 million to the underserved Main Street segment through a process that is substantially faster and easier than a traditional bank loan.
To learn more about On Deck, please visit http://www.ondeckcapital.com.
About On Deck
Launched in 2007, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The On Deck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
On Deck is financed by some of the nation's leading venture capital firms, including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures, Village Ventures and Institutional Venture Partners. For more information, please visit: www.ondeckcapital.com. For more information, follow On Deck capital on Twitter @OnDeckCapital
SOURCE On Deck
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