Noah Breslow, CEO of online lender On Deck Capital, has watched the company’s market value shrink from $230 million in February to $53 million in May. The coronavirus pandemic couldn’t have come at a worse time for New York City’s On Deck Capital. It has also tapped $987 million of its $1.1 billion credit facility in an effort to stave off a liquidity crisis. On Deck Capital is just one of many finance startups in the throes of an existential crisis. Salt Lake City-based Galileo is a fintech that powers payments for trading app Robinhood, money-transfer company TransferWise and digital bank Chime.

Source: Forbes May 11, 2020 10:30 UTC