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Kabbage Lands $30 Million in Series C Financing, Adds Former PayPal President to Board

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Over the past two weeks, Kabbage, a provider of capital to online small businesses, made two big announcements.

First, it raised $30 million in Series C financing. This installment brings Kabbage’s total financing to $56 million. Investors include:

    • Thomvest Ventures
    • UPS Strategic Enterprise Fund
    • Mohr Davidow Ventures
    • BlueRun Ventures
    • Warren Stephens
    • David Bonderman

According to Forbes, Kabbage plans to use the $30 million to expand the business by funding offline businesses as well.


Kabbage also announced that Scott Thompson, former President of PayPal, will join its board of directors. The Atlanta-based startup’s board currently includes:

    • Rob Frohwein (Kabbage CEO)
    • Marc Gorlin (Kabbage Chairman and Co-Founder)
    • Bryan Stolle (General Partner Mohr Davidow Ventures)
    • Jonathan Ebinger (Partner Blue Run Ventures)
    • Bruce Miller (Managing Director Stephens)
    • Don Butler (Managing Director of Thomvest Ventures)

To learn more about Kabbage, watch its FinovateSpring 2012 demo.