How they describe themselves: Kabbage together with its banking partner provides financing to the untapped market of high volume online sellers as they list products for sale, leveraging information
generally available on online marketplaces to assess risk and help determine loan amounts and related fees and interest. This approach allows Kabbage and its banking partner to understand borrowers better and, as a result, provide them with cash as and when they need it.
What they think makes them better: There currently exists no other credit product that is focused exclusively on the online seller market. In reality, very few online businesses are able to obtain
financing at all. We can accomplish this because we analyze data obtained online to determine
the risk of lending money to online sellers and also utilize electronic channels to market to these businesses. Consequently, risk associated with making loans and cost per account acquisition is decreased (as compared to traditional financing products).
Key Executives: Robert Frohwein (Founder & CEO), Marc Gorlin (Chairman), Kathryn Petralia (COO), Michael Clark (VP, Technology)
Investors: Henry Mellon (Mellon Bank), Leland Strange (CoreCard Software)
Customers: We are selling directly to online sellers - the millions of businesses that make a living selling products (including software) online.
Contacts:
Bus. Dev. & Sales: Robert J. Frohwein, 678-580-2689, rfrohwein@kabbage.com
Press: Howard Lalli, 404-455-0348 |
