Kabbage
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Type of site
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Financial Services |
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| Owner | Privately Held |
| Created by |
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| Slogan(s) | Fund Your Business. Today! |
| Website | www |
| Launched | February 12, 2009 |
| Current status | Online |
Kabbage, Inc. is an online financial technology company based in Atlanta, Georgia. The company provides funding directly to small businesses and consumers through an automated lending platform.
Kabbage, Inc. was established in 2009 by Rob Frohwein, Marc Gorlin, and Kathryn Petralia. The financial services data and technology platform based out of Atlanta, Georgia, publicly launched and began making its first loans in May 2011. Kabbage is venture funded and backed by Reverence Capital Partners, SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, and BlueRun Ventures and is debt funded by Victory Park Capital. Additional investors include: ING, Santander InnoVentures, Lumia Capital, Scotiabank, TCW/Craton David Bonderman, Warren Stephens, the UPS Strategic Enterprise Fund, TriplePoint Ventures, and Jim McKelvey.
In 2012, Kabbage opened its San Francisco office and appointed Victoria Treyger as Chief Marketing Officer. That same year, Kabbage raised $30 million in Series C financing, led by Thomvest Ventures, and was named one of Red Herring's Top 100 North American private companies.
In February 2013, the company expanded internationally, entering the United Kingdom, and was named one of the Top 10 Most Innovative Companies in Finance by Fast Company. Also in 2013, Kabbage raised $75 million in debt financing, led by Victory Park Capital and existing investor Thomvest Ventures.
In 2014, Kabbage raised an additional $106 million in funding from SoftBank Capital, TCW/Craton, Lumia Capital, the UPS Strategic Enterprise Fund, Thomvest Ventures, BlueRun Ventures and Mohr Davidow Ventures. In April 2014, Kabbage closed a $270 million credit facility from Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners. A BBB debt rating was obtained by Kabbage on $136 million of Class A notes that were part of the $270 million facility obtained from Guggenheim Securities.
Kabbage extends $1 billion each year in working capital funded to small businesses. In 2015, the company was named to Forbes Magazine’s Top 100 Most Promising Companies for the second year in a row.
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