Kabbage, Inc., an Atlanta, GA-based online provider of small businesses financing, closed a $75m credit facility.
The company intends to use the proceeds to grow its customer base and allow it to expand its reach to new customer segments and markets.
Led by Rob Frohwein, Co-Founder and CEO, Kabbage provides small businesses with a financial services data and technology platform to provide funding. The platform leverages data generated through business activity such as online sales, shipping, and dozens of other sources to understand performance and deliver funding in real time.
The company is venture funded and backed by Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., Western Technology Investment, H. Barton Asset Management, and TriplePoint Ventures.