Data-Focused Online Merchant Lender Kabbage Raises $30M From UPS, SV Angel And Others

Kabbage, which provides working capital to online merchants, has raised $30 million in Series C financing led by Thomvest Ventures, the venture capital arm of Peter Thomson, the founder and managing director of Thomvest Ventures and a director of Thomson Reuters. UPS Strategic Enterprise Fund, Mohr Davidow Ventures, BlueRun Ventures, Warren Stephens, and David Bonderman participated in the round. In addition, SV Angel also recently invested in the company. Kabbage has received a total of $56 million in funding to date. The Atlanta-based company is essentially a way for online merchants and sellers on marketplaces like eBay, Etsy, and Amazon to get capital they otherwise wouldn't qualify for at a bank. Many small businesses and online merchants can?t receive financing from traditional banks and don't want to risk using personal assets like a house to qualify for business loans. Kabbage is disrupting this space by providing a painless way to help these sellers access cash quickly and easily.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ULWnL6ydNYo/

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