Kabbage
{{Infobox website
| name = Kabbage | logo = Nice-logo.jpg | logo_size = 125px | CEO = Rob Frohwein | type = Public | company_slogan = Fund Your Business. Today! | foundation = 2009 | hq_location = Kabbage, 925B Peachtree Street NE, Suite 1688, Atlanta, GA 30309 |founders = Rob Frohwein, Kathryn Petralia, Marc Gorlin | num_employees = 144 | industry = Financial Technology, Finance | products = Kabbage , Karrot Personal Loans | homepage = www.kabbage.com| revenue = $41 Million (as of January 2015) [1]
- ↑ http://www.forbes.com/companies/kabbage/
}}
About
Kabbage is an Atlanta, GA based company which provides quick, short term loans to small businesses through an automated lending platform. It uses factors other than your credit score to determine your credit worthiness and approves your business for a line of credit against which you can borrow an amount up to $100,000. Kabbage Loans have come up as a great alternative to traditional lending for small businesses.
Controversies
Kabbage launched a controversial campaign, in the year 2014, where a sad clown is singing a parody of the classic song "Keep On the Sunny Side". The version in the video focuses on the life in a corporate environment. The Company through this video encouraged people in the corporate world to share their sad clown stories before leaving to start their own business on social media using #sadclown.
History
Kabbage came into existence in the year 2009. It was founded by Robert Frohwein with Marc Gorlin and Kathryn Petralia. The company started lending loans in the year 2011 and since its inception the company has lent more than $1 billion to small businesses.
Kabbage is financed by Reverence Capital Partners (Series E), SoftBank Capital (Series D),Thomvest Ventures (Series C), Mohr Davidow Ventures (Series B), Blue Run Ventures (Series A). The most recent funding of $135M was done by Reverence Capital Partners on October 14,2015. The other investors include David Bonderman, ING Group, Jim McKelvey, Lumia Capital, Mohr Davidow Ventures, ScotiaBank, SoftBank Capital, SV Angel, The TCW group, UPS Strategic Enterprise Fund and Santandar Innoventures.
In 2012, Kabbage opened another office in San Francisco and appointed Victoria Treyger as its Chief Marketing Officer.
In November 2013, Kabbage expanded its venture and launched iOS and android app which allowed users to avail loan from their smartphones. In the same year, it also entered the United Kingdom Market and found its way in the TOP 10 Most Innovative Companies in Finance by Fast Company.
In the year 2014, Kabbage launched another brand to provide personal loans and named it Karrot. In the same year, it started lending $2 million per day to small businesses.
Kabbage expanded the application of its platform in March 2015 by licensing the data and technology platform to power lending for other organizations. It was named as one of the Most Promising Companies in the Forbes Magazine for second consecutive year. In May 2015, Kabbage announced the launch of the new Kabbage Card which further extended their lending reach. Kabbage Card gives businesses the ability to pay for items at the point of sale with a purchasing card tied to their Kabbage account. Kabbage also collaborated with MasterCard in May 2015 to make Kabbage’s data and technology platform available through MasterCard’s network of acquirers.
Top 5 Recent Tweets
Date Author Comment April 21, 2021 nelsonpatthemeh @KabbageInc @Kabbitch What's going on with PPP forgiveness? @KServicing hasn't updated their info since Jan?! Any updates? April 15, 2021 AmexBusiness From grassroots videos to global empire: Olbali CEO & Founder @CourtneyAdeleye talks with Rob Frohwein (@KabbageRob… https://t.co/5PRZdTcMl2 April 20, 2021 DreuxAntoine @JamikalWagner @crossriverbank That's happening to many people. The 1st draw was w/ @KabbageInc which is now… https://t.co/cHVsD4PVS9 April 19, 2021 AmexBusiness She grew a side hustle into a multi-brand enterprise. Olbali CEO & Founder @CourtneyAdeleye talks with Rob Frohwein… https://t.co/ZP6Pc04ity Top 5 Recent News Headlines
May 24, 2016 Financial Express - Perils of greed in peer-to-peer marketplaces; India must enforce stringent business discipline
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May 22, 2016 TechCrunch - The mercurial nature of P2P lending
May 20, 2016 BetaKit - Government of Canada launches FinTech study examining regulation that stifles innovation
May 19, 2016 Venture Capital Database - The Rise Of Chinese Investors Into US Tech Companies Sramana Mitra - Billion Dollar Unicorns: Decolar is the Latin American Entry to the Club Mobile Syrup - Government launches study that aims to research Canada’s fintech market
External links
