On Deck Capital and Intuit jointly own a limited liability corporation called Lancelot QBFOD, according to On Deck's quarterly filings. Lancelot is not mentioned in Intuit's most recent quarterly filing with regulators.
The fund is another example of how fintech startups are diversifying the sources that invest in their loans.
Lancelot is based in Delaware, according to documents filed with regulators. On Deck filings state that the company "acquired" a 67 percent interest in Lancelot in the third quarter of 2015. On Deck's filings state that 33 percent of Lancelot QBFOD LLC is owned by Intuit. That matches the time frame of On Deck and Intuit's partnership announcement, which came in mid-September last year.
"We consider it to be a successful partnership," a representative for On Deck Capital said, declining to provide specifics on the venture.