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 February 06, 2023 KeithNe72182191 @AmericanExpress is doubling down on SMEs and launched Business Blueprint — a set of digital cash flow management… https://t.co/z3UaTXjueE February 06, 2023 backtomarketing 11 #Grants for #Women-Owned Businesses by KabbageInc - https://t.co/FMuYDvhS3Q February 02, 2023 FintechNewsHK 10 Fintechs That Are Transforming SME Lending. https://t.co/xVNiwmFoRi @ProvenirGlobal @oaknorthbank… https://t.co/ruLQqi1Mwj February 06, 2023 ForbesAdvisor These startup business loans can help your new company get off the ground without having to qualify for traditional… https://t.co/Z5x4DR8GzM February 05, 2023 CurtisParton10 @AskAmex this came from @KabbageInc - BMAbanking @y12fcu https://t.co/2qnDoQUHV8
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