Kabbage, Inc, is an online financial technology company based in Atlanta, Georgia.
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30 Facts About Kabbage
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2.
Kabbage provides funding directly to small businesses and consumers through an automated lending platform.
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3.
Kabbage publicly launched and began providing loans in May 2011.
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4.
Kabbage is venture funded and backed by Reverence Capital Partners, SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, and BlueRun Ventures.
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That same year, Kabbage raised $30 million in Series C financing, led by Thomvest Ventures.
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6.
Also in 2013, Kabbage raised $75 million in debt financing, led by Victory Park Capital and existing investor Thomvest Ventures.
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7.
Kabbage extends access to over $1 billion each year in working capital funded to small businesses.
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In March 2017, Kabbage priced $525 million of fixed-rate, asset-backed notes in a private securitization transaction.
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9.
In November 2017, Kabbage closed a $200 million debt facility with Credit Suisse, bringing its total debt funding to $750 million.
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10.
That month, Kabbage released new data gathered in partnership with Bredin, a leading small-business market research firm.
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11.
Kabbage acquired Orchard, a provider of data, technology and analytics to the online lending industry, in 2018 to offer more data-driven services to small businesses and financial institutions.
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12.
The following month, Kabbage formed an alliance to provide the Building Trades Employers' Association 1,300 contractor companies access to funding through the Kabbage® platform.
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13.
In July 2019, Kabbage closed a $200 million four-year revolving credit facility.
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14.
In September 2019, Kabbage acquired Radius Intelligence, a technology company specializing in small business data acquisition and entity resolution, to add insights to its cash-flow solutions.
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Kabbage has been associated with large, fraudulent Paycheck Protection Program payouts during the COVID-19 pandemic.
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Kabbage expanded its business-to-mobile operations with an iOS and Android app in November 2012.
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In February 2014, Kabbage expanded its product offering to lend to brick-and-mortar businesses.
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18.
March 2015, Kabbage began licensing its lending platform to power lending for organizations interested in providing financing to their customers.
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19.
In September 2019, Kabbage launched the Kabbage Small Business Revenue Index, a tool using real-time data to provide insights into the ongoing revenue performance of small businesses in the US across states and industries.
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In October 2019, Kabbage launched Kabbage Payments, a new payment-processing solution for small businesses that includes a custom pay link, online no-fee invoicing, next-day deposits, and more.
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Just a month after launching custom loans, Kabbage announced the general launch of Kabbage Insights, a free tool to calculate and predict cash-flow patterns for small businesses.
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22.
February 2012, Kabbage and United Parcel Service entered into an agreement, allowing small businesses to share their shipping histories with Kabbage.
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23.
Kabbage entered into a partnership with Intuit QuickBooks in Spring 2013 that enables QuickBooks users to link their QuickBooks account to qualify and access capital through Kabbage.
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24.
Kabbage partnered with Stripe, a company that enables businesses to instantly accept credit card payments online, in August 2013 to underwrite customers based exclusively on Stripe's payment processing data.
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Kabbage teamed up with Xero, a leader in online accounting software, to extend funding to Xero's customers by leveraging their online accounting data.
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26.
March 2015, Kabbage launched its first platform lending partnership with Australia-based Kikka Capital to establish a new small business product powered entirely by Kabbage technology.
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27.
In July 2015, Kabbage established a partnership with Experian, allowing Experian to leverage Kabbage's automated lending platform to its institutional clients serving small businesses and consumers.
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28.
In March 2016, Kabbage began partnering with the National Federation of Independent Business to make funding from Kabbage available to its members with the click of the button.
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29.
In May 2019, Kabbage partnered with Azlo to launch Mission Street Capital, a program that provides small businesses with an Azlo account access to funding through Kabbage's products.
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30.
In November 2019, Kabbage partnered with GoDaddy to make its online lending platform available for GoDaddy's US customers.
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