Kabbage, Inc., an Atlanta, Georgia-based provider of working capital for online merchants, has raised $12m in debt financing from Western Technology Investment (WTI).
The company intends to use the proceeds from the financing to expand the working capital available to its customer base.
Led by CEO Rob Frohwein and officially launched in October, 2010, Kabbage has developed a financial services data, technology and marketing platform for online merchants. Leveraging data generated through merchant activity across various marketplaces and channels to understand business performance and craft financing options that meet their needs.
The company is backed by Mohr Davidow Ventures and BlueRun Ventures, with additional investors including David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., and the UPS Strategic Enterprise Fund.
FinSMEs
13/12/2011