A top online provider of small business loans has buddied with MasterCard to expand
access to working capital for Small- and mid-sized businesses (SMBs).
MasterCard has agreed to make Kabbage’s data and technology platform available through MasterCard’s network of acquirers.
This relationship will provide MasterCard’s SMB partners access to working capital through their acquirer network and will deliver a simplified loan alternative for SMBs to grow their businesses.
Atlanta-based Kabbage pioneered the first financial services data and technology platform to provide fully automated funding to small business in minutes. The Company leverages data generated through business activity such as accounting data, online sales, shipping and dozens of other sources to understand performance and deliver fast, flexible funding in real time.
Through its Karrot brand, Kabbage offers simple consumer loans through its automated platform. All loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank.
Kabbage is venture funded and backed by SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, TCW/Craton and additional investors, including Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, and Warren Stephens, CEO of Stephens Inc.
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