Kabbage

  • Kabbage gets $200M from Credit Suisse to expand its AI-based business loans

    Kabbage gets $200M from Credit Suisse to expand its AI-based business loans

    After picking up $250 million in equity funding from Softbank earlier this year, the small business loans and finance company Kabbage — which uses only algorithms and machine learning (no humans) to determine an applicant’s eligibility — is announcing another big infusion of money. The company is picking up $200 million from Credit Suisse in a revolving credit facility that… Read More

  • PayPal to acquire Swift Financial to bolster small business lending

    PayPal to acquire Swift Financial to bolster small business lending

    Global payments processing company PayPal announced this morning that it has agreed to acquire Swift Financial, which provides small business owners with working capital. Terms of the deal were not disclosed, but the acquisition will give PayPal better tools to expand its own Working Capital product. Read More

  • Small business loan platform Kabbage nabs $250M from Softbank

    Small business loan platform Kabbage nabs $250M from Softbank

    Kabbage, a company with some 115,000 customers and $3.5 billion in loans that has built an automated platform for lending money to small businesses and individuals using a large set of data points to determine a customer’s credit score, is announcing some big cabbage of its own today. SoftBank Group is investing $250 million in Kabbage — funding that Rob Frohwein, the co-founder… Read More

  • Kabbage nabs $500M for small business loans

    Kabbage nabs $500M for small business loans

    Kabbage, a billion-dollar startup that combines machine learning algorithms, data from public profiles on the internet and other factors to rate and then loan people money for their small businesses, is today announcing another big step up in its ambitions. The company has secured over $500 million in fixed-rate, asset-backed notes, money that it will use to expand the amount, payback… Read More

  • Kabbage partners with Scotiabank to provide small business loans in Canada and Mexico

    Kabbage partners with Scotiabank to provide small business loans in Canada and Mexico

    Small business lending platform Kabbage announced a partnership with Scotiabank today to make it easier for residents of Canada and Mexico to take out small business loans of up to $100,000 in minutes. Kabbage has historically worked directly with business owners. The company offers rapid evaluation and a line of credit. The company has relied on partnerships with banks like Silicon Valley… Read More

  • In defense of online lending Crunch Network

    In defense of online lending

    The marketplace industry will be just fine. It is uncertainty – rather than a fundamental flaw in the business model – that is the root cause of the sector’s present turmoil. There’s uncertainty over the platforms’ internal monitoring processes, over the veracity of loan data, over shifts in loan rates, over shifts in the economy – and indeed over the… Read More

  • Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M

    Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M

    Kabbage — the online platform that loans money to businesses and individuals using a wide set of online data and algorithms to measure credit-worthiness — is growing once more. The startup based out of Atlanta has raised a Series E of $135 million, and expanded its credit facility — the money it has on hand to fulfil loans — to $900 million. Kabbage is not… Read More

  • Choose Your Own Startup Funding Adventure Crunch Network

    Choose Your Own Startup Funding Adventure

    During April, the nation will observe Financial Literacy Month – meaning it’s time to revisit the diverging roads to funding early-stage startups. The rise of non-traditional routes for raising capital, such as Kickstarter, has catalyzed a much-needed renaissance in funding options for entrepreneurs. With the passing of the JOBS Act, entrepreneurs have a bevy of new opportunities… Read More

  • Kabbage’s SMB Loan Platform Moves Into Asia Pacific As A White-Label Service

    Kabbage’s SMB Loan Platform Moves Into Asia Pacific As A White-Label Service

    Kabbage has taken root in the U.S. and UK markets as a platform where small businesses can quickly apply for and receive working capital loans — with Kabbage making fast decisions about eligibility through a mix of smart algorithms and online and offline data sources. Now the startup is growing its business on two fronts. It’s kicking off a new white-label offering where… Read More