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Kabbage Reaches $2 Billion in Loans in 5 Years

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Small-business-funding platform Kabbage was founded in 2009 with a mission to use big data to help underwrite small business loans. Today, the Georgia-based company announced it has originated $2 billion in loans during the past five years.

The 75,000 small business customers on Kabbage’s platform hail from all 50 U.S. states. The company links more than 1 million data sources to the company’s underwriting engine which pulls information such as business revenue, vendor payments, and tax and accounting data to assign the proper line of credit in real time. The credit line is dynamic and automatically adjusts to furnish businesses with the right amount of capital they need to grow.

Earlier this month, Kabbage partnered with alt-lenders OnDeck and CAN Capital to launch the Innovative Lending Platform Association and Smart Box. The new initiatives aim to foster transparency in online lending by creating an environment in which all lenders can openly collaborate on small business loan pricing and fee disclosures.

At FinovateSpring 2015, Kabbage launched the Kabbage Card, a payment device that offers businesses immediate access to their loan without the need to transfer funds into a PayPal account.

The company’s CTO Andy Badstubner presented at FinDEVr San Francisco 2015 on how to integrate into the Kabbage platform.