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Online lender OnDeck Capital's shares soar in debut

The OnDeck website
OnDeck
The OnDeck website

Shares of OnDeck Capital, an online lender to small businesses, rose as much as 37 percent in their debut, valuing the company at up to $1.8 billion.

The company raised $200 million after its initial public offering was priced at $20 per share, well above the expected range of $16 to $18.

OnDeck Capital's shares opened at $26.50 on the New York Stock Exchange and touched a high of $27.33.

Morgan Stanley, Bank of America/Merrill Lynch, Pierce, Fenner & Smith, JP Morgan Securities, and Deutsche Bank Securities are among underwriters to the IPO.