OnDeck Australia builds out brokerage channels

Two new hires from the SME lender

OnDeck Australia looks to bolster broker channels in major states.

OnDeck Australia has made two key hires in Victoria and Queensland to help grow out its broker channels in two of Australia’s biggest states.

“Both Queensland and Victoria are key markets in the Australian broking landscape and this is an exciting time for us to now have dedicated people to identify new business opportunities in these regions,” said Cameron Poolman, OnDeck Australia CEO.

The hires signal that fintech lenders are increasingly looking to make headways with brokers.

It also shows that OnDeck’s small business lending strategy is evolving.

When OnDeck launched 18 months ago it went directly to customers. This strategy was obvious in its recent marketing campaign, ‘Turn that No around’, which targeted small business owners directly.

But hiring two new business development managers suggest the company is looking to establish third party channels too.

The new business development managers will be a point of contact for brokers to OnDeck, helping them understand OnDeck’s product. They will also help generate new business opportunities.