Small business, marketplace lender, Kabbage, has announced two new executive hires; the executive hires will focus on technology and data as the company seeks to expand and gain greater market share in online small business lending; Amala Duggirala will join Kabbage as the chief technology officer and Rama Rao will be the chief data officer. Source
Short term small business lender Kabbage raised a $250 million Series F round from Japan's SoftBank, bringing their total equity funding to $500 million; according to TechCrunch, Kabbage CEO Rob Frohwein says the funding will be used to expand their US footprint, launch more analytical tools, expand into the Asian market and add new products; when talking with TechCrunch before the round was public, Rob explained the thought process behind going into new products like payments; Frohwein says: "Look at how PayPal and Square have both gone from being payments companies to small business lenders. There is a clear connection between how companies think about those two business areas, so it's not a giant leap of faith for us to consider this." Source
Today, Kabbage announced the launch of their new small business checking account called Kabbage Checking; it is being offered in...
Kabbage has been working on new ways that they can serve small businesses; they recently announced the launch of extremely...
Much of the attention of the Paycheck Protection Program has been on the automation of the approval process; this was...
According to a form d filing with the Securities and Exchange Commission small business lender Kabbage is in the middle of a $161mn round; the filing shows they have thus far raised a little over $80mn; this round is in addition to the $250 million investment from a subsidiary of Softbank Group in August. Source.
Online small business lender Kabbage as furloughed a significant number of the 500 employees in the U.S.; the company hopes...
Kabbage’s latest product offering is available for Kabbage Payments customers; loans are available for as short as 3 days and...
Kabbage has announced the pricing of its first securitization of the year; the portfolio was valued at $525 million and includes small business loans; it is structured in four classes and has received ratings from Kroll Bond Rating Agency with the majority of the portfolio rated A; the deal is expected to close around March 20. Source
Barron’s reports that online small business lender Kabbage is shopping for buyers and could fetch more than $1bn; the potential...