Rising lending losses and an entrenched burn rate may all be part of the plan for OnDeck Capital Australia.Financial statements lodged with ASIC in late April suggest the local arm of the NYSE-listed fintech funder is no showpiece.OnDeck reported a loss after tax of A$7.2 million over the year to December 2018, compared with a loss of $8.2 million in 2017.?Accumulated losses were $28 million at the end of 2018, equal to 93 per cent of the total contributed capital of the business at the end of 2017.  Head office chipped in $10 million during the year.While a function of the unique business strategy of US-centric OnDeck, these deep losses may be sobering for investors studying the mooted IPO of Prospa or the public servants overseeing the AOFM's upcoming subsidies for hopeful fintechs looking for backing via the Australian Business Securitisation Fund.At the recent AltFi Summit in Sydney, OnDeck's global CEO Noah Breslow told Banking Day that the local subsidiary "has met every expectation".In the fintech's first earnings call of the year in February Breslow provided a wider view."We're going to scale our international operations to position them for profitability in 2020," he said then.International for the moment means Canada (where OnDeck has rounded up a partner) and Australia."We expect continued strong organic growth in Australia," Breslow told investors, having also argued "credit quality remained solid".The Australian accounts show a bad debt expense of $5.2 million in 2018, up from $2.5 million in 2017, with the loss rate below the hefty 11 per cent incurred at the group level.OnDeck's business loans are pretty short term, more than 90 per cent due within the next 12 months and largely funded by wholesale liabilities of longer duration.