ENVA - Enova combines its ODX business with Fundation's to form digital account origination company

Enova International (ENVA) to combine its ODX business with Fundation, an origination solutions provider focused on the business banking market. Enova will retain a minority stake in the new combined business and will be named Linear Financial Technologies."This transaction creates the largest independent SaaS provider to banks for small business lending, with a product set that is superior to other offerings in the market. We believe that this transaction will fuel growth for Linear while enabling us to more efficiently focus our efforts on growing our core U.S. SMB and consumer businesses." said David Fisher, CEO. Shares +2.2% pre market

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Enova combines its ODX business with Fundation's to form digital account origination company