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Online lender OnDeck posts smaller quarterly loss

Aug 7 (Reuters) - OnDeck Capital posted a smaller quarterly loss compared with a year earlier as higher interest rates helped the online lender boost its revenue.

Net loss attributable to common shareholders narrowed to $1.49 million, or 2 cents per share, in the second quarter ended June 30, from a loss of $17.9 million, or 25 cents per share, a year ago.

Gross revenue rose 25 percent to $86.7 million due to higher net interest income. (Reporting by Nikhil Subba in Bengaluru; Editing by Martina D'Couto)