Kabbage, a startup that provides working capital to online merchants in the U.S. and U.K., announced today it received $75 million in debt financing.
Victory Park Capital led the round. Existing investor, Thomvest Ventures, also contributed.
According to Crunchbase, from 2010 to 2011 the Atlanta-based startup received almost $17 million in debt financing.
It has also raised more than $53 million in equity funding, including:
Venture Round, $6.65 million
Closed: January 2011
Investors:
- BlueRun Ventures
- David Bonderman
- Warren Stephens
- UPS Strategic Enterprise Fund
Series B, $17 million
Closed: August 2011
Investors:
- Mohr Davidow Ventures
- BlueRun Ventures
- Warren Stephens
- UPS Strategic Enterprise Fund
- Jim McKelvey
Series C, $30 million
Closed: September 2012
Investors:
- Thomvest Ventures
- UPS Strategic Enterprise Fund
- Mohr Davidow Ventures
- BlueRun Ventures
- Warren Stephens
- David Bonderman
- SV Angel
According to TechCrunch, Kabbage’s new debt funding is due to the massive growth it has seen recently. It has extended more than 60,000 advances, which have quadrupled in volume year-over-year.
To learn more about Kabbage, watch its FinovateEurope 2013 demo.