Kabbage, Inc., an Atlanta, GA-based data and technology company offering automated cash flow solutions to small businesses, closed a $200m revolving credit facility.
The new four-year credit facility commitment is provided by a subsidiary of a life insurance company, managed and administered by 20 Gates Management, and Atalaya Capital Management.
The debt capital will support the company’s growth in the USA.
Kabbage provides small businesses access to lines of credit up to $250,000 by analyzing their real-time business data. With more than 2 million live data connections with its customers, the company provides small businesses access to capital in minutes.
To-date, it has provided more than 185,000 U.S. small businesses access to over $7 billion in capital.
All of the company’s U.S.-based loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.
Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, Mohr Davidow Ventures and others.