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OnDeck completes merger of Canadian operations with Evolocity Financial Group

On Deck Capital Inc. completed the merger of its Canadian operations with Montreal-based online small business lender Evolocity Financial Group Inc.

The deal combines Evolocity's local operations, technology and Canadian underwriting expertise with OnDeck's marketing, business development and international online lending capabilities.

The combined business will operate under the OnDeck Canada name and will be majority owned by OnDeck.

Evolocity CEO Neil Wechsler will serve as CEO of OnDeck Canada, and its management team will include Evolocity co-founders David Souaid as chief revenue officer and Harley Greenspoon as COO. The board governing OnDeck Canada will be chaired by OnDeck Capital CEO Noah Breslow and will comprise OnDeck CFO Ken Brause, OnDeck International President Rob Young, as well as Wechsler, Souaid and Greenspoon.