Kabbage Gets $270M More To Lend To Small Online Merchants

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I am ready to get the Kabbage. Are you?

TechCrunch

Kabbage , a platform for online merchants to borrow working capital, is picking up some cabbage of its own: the startup has closed a $270 million credit facility from Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners. Atlanta, Georgia-based Kabbage will use the funds to build out its financing business both in the U.S. and beyond. This is one of the largest credit facilities ever issued to a small business lender, and possibly the biggest in the online lending space. And its CEO says it may be followed up with even more financing very soon.

“Growth has been dramatic,” Rob Frohwein, Kabbage’s CEO and founder, told me in an interview. “Yes, this is a large facility, but looking at our growth rate, it’s something that we will need to look at again in a reasonably short period of time, believe it or not.”

Matthew Perkins, Senior…

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