02 August 2015

Kabbage raises $6.65 million

14 January 2011  |  4182 views  |  0 cash

Kabbage, a US start-up that provides working capital advances to online merchants has raised $6.65 million in a series a funding round led by BlueRun Ventures.

David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens and the UPS Strategic Enterprise Fund also participated in the round.

Atlanta-based Kabbage targets merchants selling goods online, offering capital advances of up to $12,000. It began making advances for eBay sellers in April, with other sites set to be added.

The firm says its technology platform analyses online merchants' sales and credit history, customer traffic and reviews and prices and inventory compared to competitors.

If they meet the requirements, applicants can have the money they need in their PayPal account within 10 minutes, claims Kabbage.

Robert Frohwein, CEO, Kabbage, says: "This round of funding will enable us to expand operations into additional marketplaces, such as Amazon, Etsy, Overstock, etc., helping small businesses to further boost today's economy."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

12 March, 2009
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
ING Bank introduces voice-activated mobile...
9239 views comments | 26 tweets | 30 linkedin
Will Uber be the Uber of banking?
7554 views comments | 40 tweets | 31 linkedin
Payments and capital markets sectors domin...
6381 views comments | 17 tweets | 18 linkedin
Singapore hires Citi veteran to lead new f...
5703 views comments | 13 tweets | 5 linkedin
Bank branches key to fending off digital c...
5644 views 11 comments | 21 tweets | 29 linkedin

Featured job

£90-110K Basic Circa £200-250K OTE NO CEILING
London

Find your next job