The great fintech consolidation of 2020 continues. While we knew this deal might be coming, as it was leaked last...
Kabbage launched a new website called www.helpsmallbusiness.com; the website allows consumers to purchase online gift cards from small businesses; revenue...
After pausing new lending in March Kabbage pivoted to focus on the Paycheck Protection Program and in doing so has...
Online SMB lender Kabbage has built an app to allow Uber drivers to apply for PPP loans directly from their...
Kabbage now has debt funding capacity of $750 million; the additional facility will allow the company to offer higher lines of credit with longer terms; Deepesh Jain stated, “The new, DBRS-rated facility, provided by Credit Suisse, speaks to Kabbage’s maturity in the financial markets and gives us diverse funding options to serve our small business customers. To earn an investment-grade rating requires a rigorous evaluation of not only our lending models, automated risk analysis, and successful history of reducing bad debt to an industry-low, but also our operational processes – from exceptional customer service to unmatched technology development.” Source
It was the worst kept secret in fintech. There were rumors flying around during LendIt Fintech earlier this month and...
Small business lender Kabbage has announced a new milestone with total lending originations of over $3 billion; firm has provided loans for over 100,000 small businesses; helping to reach the new high, the firm provided 20,000 loans in March and reports $1 billion in funding serviced in less than a year. Source
Kabbage is now accepting applications from small businesses under the Paycheck Protection Program (PPP); Kabbage recently stopped lending on March...
Speaking at LendIt Fintech 2018 Kabbage CEO Rob Frohwein talked about building a brand in the online lending space; he explained most companies think boiler rooms equal brands, he went on to say you need to spend time and money on building your company’s brand; building relationships is the key, not just credit scores and data, you need to understand what your customer wants and needs by engaging with them on a regular basis. Source.
Kabbage's chief technology officer Amala Duggirala has taken a new role with Regions as the bank's chief investment officer; Amala Duggirala has been with Kabbage since November 2016 leading the firm's technology platform efforts; prior to Kabbage she worked as executive vice president of application development at payments technology company ACI Worldwide; her technology experience in lending and payments will help to support and enhance product development and innovation in her new chief investment officer role at Regions. Source