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Ex-PayPal president Thomson joins Kabbage board

27 September 2012  |  4261 views  |  0 handshake

Scott Thompson, the former president of PayPal who was forced out of Yahoo earlier this year has joined the board of Kabbage, a US start-up that provides working capital advances to online merchants, according to TechCrunch.

Thomson shocked the fintech world in January when he quit PayPal after being lured to take over as CEO at Yahoo, the once-giant dotcom company that has long been in the doldrums.

However, he left his new job within months after a scandal centred on the misrepresentation of academic qualifications on his CV and has since turned up as CEO of ShopRunner.

Thompson has now also taken a board role at Kabbage - which recently closed a $30 million funding round - telling TechCrunch that he thinks the firm is "rapidly reshaping the small business financing space in the same way that PayPal reshaped the payments space".

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