What is Kabbage? Kabbage Review

history

At the end of 2008, it was founded by Marc Gorlin, Kathryn Petralia and Rob Frohwein in Atlanta, USA.

In 2012, Kabbage opened a San Francisco office and appointed Victoria Treyger as chief marketing officer.

In February 2013, Kabbage entered the international market, entering the UK, and was named one of the top ten most innovative financial companies by Fast Company.

In 2015, the company was named one of the 100 most promising companies by Forbes magazine for the second consecutive year.

In 2018, Kabbage acquired Orchard, a provider of data, technology and analytics to the online lending industry, to provide more data-driven services to small businesses and financial institutions.

Target Users

Kabbage's main target customers are American online merchants on eBay, Amazon, Yahoo, Etsy, Shopify, Magento, and PayPal.

develop

In November 2012, Kabbage expanded its services to mobile via iOS and Android apps.

In September 2014, Kabbage began lending $2 million a day to small businesses.

In March 2015, Kabbage began licensing its lending platform to power loans to organizations interested in providing financing to their customers.

In May 2015, Sage Payment Solutions became the first third-party organization to leverage Kabbage’s technology and data platform.

In May 2015, Kabbage launched the Kabbage Card, which allows businesses to pay for items at the point of sale using a purchasing card tied to their Kabbage account.

In April 2016, Kabbage announced a partnership with Santander UK, a subsidiary of Grupo Santander, to power automated SMB lending across the United Kingdom.

In July 2016, Kabbage launched an updated mobile app that supports the entire loan process from application to qualification and funding all within the app.

Financing

In August 2011, Kabbage received $17 million in Series B financing, led by Mohr Davidow Ventures, followed by Kabbage's existing investment institution Blue Run Ventures and several angel investors, including Jim McKelvey, co-founder of mobile payment company Square.

In December 2011, Kabbage received another $12 million investment in a new round of financing.

In 2012, Kabbage raised $30 million in Series C funding led by Thomvest Ventures and was named one of Red Herring's Top 100 Private Companies in North America.

In December 2012, Kabbage began using Square transaction data to underwrite funds.

In 2013, Kabbage raised $75 million in debt financing led by Victory Park Capital and existing investor Thomvest Ventures.

In April 2014, Kabbage obtained a $270 million credit line from Guggenheim Securities, the investment banking and capital markets arm of Guggenheim Partners.

In May 2014, Kabbage raised another $50 million in Series D equity financing led by new investor SoftBank Capital, along with TCW/Craton and Lumia Capital.

In October 2015, Kabbage announced the completion of a $135 million Series E financing round led by Reverence Capital Partners and followed by several world-class banks, such as ING of the Netherlands, Santander of Spain, and Scotiabank of Canada.

In August 2017, SoftBank Group invested $250 million in online lending company Kabbage.