Kabbage raises a $250 million equity
investment from SoftBank
Kabbage Inc. ("Kabbage"), headquartered in Atlanta, has pioneered a financial services data and technology platform to provide automated funding to small businesses in minutes. Kabbage leverages data generated through business activity such as accounting data, online sales, shipping and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Kabbage is backed by leading investors, including SoftBank, BlueRun Ventures, Mohr Davidow Ventures, Thomvest Ventures, Reverence Capital Partners, UPS, ING, Santander, Scotiabank and TCW / Craton.
Since launching six years ago, Kabbage has consistently driven innovation in small business financing by:
- Developing the first and only fully automated underwriting and ongoing monitoring platform
- Providing nearly $3.5B in funding to small businesses
- Serving more than 100,000 small businesses – more than any other online small business lender
- Maintaining 1.5M live connections to customer data
- Powering automated lending for three of the world’s top 50 global banks by asset size: ING, Santander and Scotiabank
- Receiving prestigious industry awards for innovation
SoftBank's $250M investment in Kabbage was the culmination of a tightly-controlled and competitive process, including other leading financial and strategic investors.
- The current SoftBank transaction provides Kabbage with funding to continue its strong growth & market share gains in the US, as well as further international expansion efforts
- SoftBank previously led Kabbage's Series D preferred stock funding via its affiliate SoftBank Capital
- Andrew Kass of BlackWatch Advisors advised Kabbage in the Series D funding round at his prior firm
TechCrunch - Small business loan platform Kabbage nabs $250M from Softbank
Reuters - SoftBank invests $250 million in U.S. online lender Kabbage