Kabbage, Inc., the leading online provider of working capital for small businesses, announced today that it has launched in the UK, expanding to its first market outside the United States.
Since opening two years ago, Kabbage has quickly become the fastest-growing small business finance company, extending more advances to small businesses than any other provider of working capital. Its unique funding platform leverages dozens of data sources to determine real-time business performance, and delivers funding to small businesses within seven minutes of applying online. Kabbage’s breakthrough data platform has earned the company top industry accolades including most recently being named one of Fast Company’s Most Innovative Companies and winning first place at VentureBeat’s CloudBeat Innovation Showdown 2012.
“Kabbage is deeply passionate about making funding easy and accessible to all small businesses in order to enable growth,” said Rob Frohwein, Kabbage Co-Founder and CEO. “The UK is Europe’s largest ecommerce market but small businesses there face the same challenge that American businesses face — banks are hesitant to lend the capital so desperately needed. Given the size and demand of the UK market, it was the natural destination for our first launch overseas. We’re tremendously excited to begin providing UK businesses with access to our simple, flexible funding platform in order to fuel their growth.”
For more information, please visit uk.kabbage.com.
About Kabbage, Inc.: Kabbage, Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide funding to small businesses in fewer than 7 minutes. Kabbage leverages data generated through business activity such as online sales, shipping, and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Kabbage is venture funded and backed by Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, with additional investors including: Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., Western Technology Investment, H. Barton Asset Management, and TriplePoint Ventures. For more information, please visit kabbage.com or uk.kabbage.com and follow the company on Facebook and Twitter.