Roll.

No 29 | Mehraan Khan

Date : 19/05/2021
Aim : Compilation of information from Kabbage that will help set of the business
enterprise.
Theory:
Name of financial agency : Kabbage , Inc
Kabbage is a fintech company that offers cash flow management solutions to small
businesses.
Kabbage is a financial technology and data company pioneering a new, automated way for
small businesses to access working capital. The company simplifies the manual application
process to one that is 100% online and automated. Businesses can use their business data to
submit an application online and receive an answer in minutes instead of waiting weeks and
filling out numerous forms like traditional lending methods. Businesses can access ongoing
lines of credit up to $250,000.
Kabbage leverages business data generated such as revenue, accounting data, business
transactions, shipping data, social media and other sources to understand a business’s overall
health and calculate credit lines throughout the customer lifecycle.

The company began serving online merchants in 2011 and extended its automated lending
platform to all small businesses – online and brick-and-mortar – in February 2014.
Kabbage expanded the application of its platform in March 2015 by licensing the data and
technology platform to power lending for other organizations. The company was named one
of Forbes magazine’s Most Promising Companies list for the second year in a row. Kabbage
further extended its lending reach in May 2015 with the announcement of the new Kabbage
Card, which gives businesses the ability to pay for items at the point of sale with a
purchasing card tied to their Kabbage account. Kabbage also collaborated with MasterCard
in May 2015 to make Kabbage’s data and technology platform available through
MasterCard’s network of acquirers.

In August 2015, Kabbage was named the 36th fastest-growing private company in America
on the Inc. 500 list. In October 2015, Kabbage completed a Series E funding round of $135
million led by Reverence Capital Partners. Holland’s ING, Spain’s Santander (via
InnoVentures, Santander's venture capital arm); and Canada’s Scotiabank also participated in
the round. Kabbage also announced a strategic partnership with ING to deliver instant capital
to small businesses throughout Spain.

In June 2016, Kabbage was named to CNBC's annual Disruptor 50 list of the most forward-
thinking and ambitious companies that are revolutionizing industries and markets worldwide.
Two months later, Kabbage was named to the Inc. 500 list of the country's fastest-growing
private companies for the second year in a row
 Roll. No 29 | Mehraan Khan

In 2017, the company raised $250 million from Softbank Group Corp., raising its total equity
funding to $500 million, making Kabbage one of the most well-funded companies with a
female co-founder at the helm. It also secured the largest asset-backed securitizations of
small business loans in the online lending industry of $525 million.

Conclusion : Information to set up the business enterprise is compiled from Kabbage.