SOURCE: On Deck Capital

May 20, 2008 09:00 ET

On Deck Capital Bolsters Executive Team With Two Key Hires

New CFO & VP of Merchant Sales Join Innovative Loan Provider for Millions of Small Businesses Nationwide

NEW YORK, NY--(Marketwire - May 20, 2008) - On Deck Capital, the first-of-its kind fair and fast financing solution for small businesses, announced today the addition of two key executive hires. Michael Johnston joins the company as chief financial officer and senior vice president of processing operations; David Sapuppo joins as vice president of merchant sales.

Johnston comes to On Deck with more than 20 years of finance, risk management and capital markets experience. He also brings strong operational expertise, having managed and developed start-up financial services businesses throughout his career. Most recently, Johnston was chief financial officer of Orbian Corporation where he led the design and implementation of the company's proprietary, patented lending platform. He also held multiple senior posts within GE Capital including managing director of the asset-backed commercial paper conduit business and senior risk manager for Financial Guaranty Insurance Company. Johnston's industry pedigree immediately provides On Deck with strong, proven leadership across the financial and operational sides of the business.

Sapuppo joins the company as vice president of merchant sales. Prior to joining On Deck, he was senior vice president and general manager of Citi Merchant Services, an alliance between Citibank and First Data, where he drove acquisition of small business accounts through the company's national retail branch network. In earlier leadership roles he was responsible for managing major partnerships including PNC Merchant Services, United States Postal Service, Wal-Mart and Sam's Club. With the addition of Sapuppo, On Deck gains a seasoned merchant sales expert who has spent a career developing relationships with small businesses nationwide.

"On Deck's growth demands top industry talent and Michael and David will provide strength to our sales, finance, and operations teams," said Mitch Jacobs, founder and chief executive officer. "These areas will be critical to our success as we drive to meet the national demand for fairly priced financing in the small business sector."

About Us

On Deck Capital is an innovative financing network for small businesses that are unable to access traditional bank loans. On Deck Capital bridges the vast gap between bank loans and factoring products by providing small businesses with a viable financing option. Through the company's network, millions of small businesses are connected to the capital markets where they can obtain affordable loans up to $100,000 to meet their daily operating and long term goals. The company maintains a proprietary underwriting and loan processing platform that looks deeper into the health of small businesses, focusing on the overall business performance, not just the owner's personal credit history. On Deck Capital is well-financed by some of the nation's leading venture capital firms, including Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures. For more information, please visit: www.ondeckcapital.com.

Contact Information

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