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
The largest online small business lender in the US is now PayPal having done $4 billion in loans in 2018;...
CNBC has released their 7th annual version of the CNBC Disrupter 50 which consists of startups who have exploited niches...
After pausing new lending in March Kabbage pivoted to focus on the Paycheck Protection Program and in doing so has...
Funding Circle has struggled in the public markets since their IPO in 2018; now Funding Circle and their peers have...
In this week’s PeerIQ Industry Update they cover the worries from a flattening yield curve and credit card debt reaching...
Small business lender Kabbage is planning for a new equity fundraising, targeting a few hundred million dollars; sources say the lender is considering potential acquisitions including a buyout of OnDeck; Kabbage has reported a number of recent successes including a partnership with Banco Santander, expansion to Ireland and the industry's largest asset-backed securitization of small business loans. Source
It was the worst kept secret in fintech. There were rumors flying around during LendIt Fintech earlier this month and...
Lend Academy shares several companies who have announced major origination milestones across small business lending and real estate; included in the list is Kabbage, LendingHome, Funding Circle and LendingClub. Source
According to a report in Bloomberg online small business lender Kabbage is getting set to acquire Orchard. The companies have not yet confirmed and the cost of a potential deal is also not known. Source.