On May 19, 2022, OnDeck Canada, a leading online small business lender, completed a management buyout from US-based Enova International Inc. moving the business to 90% Canadian ownership. The transaction signals management’s optimism about the future direction of the business and in the strong growth potential that exists in widening its digital credit product portfolio. The OnDeck Canada brand will be maintained following the close of the transaction.
Cassels acted for OnDeck Canada.