Kabbage and Xero have both leveraged technology to dramatically simplify and improve financial management for small businesses...
Atlanta, GA (PRWEB) October 01, 2013
Kabbage, Inc., the leading online provider of working capital for small businesses and Xero, a leader in online accounting software, announced today that Kabbage can now instantly approve and extend funding to Xero's customers based exclusively on their online accounting data. The partnership enables Xero’s customers to go from application to underwriting decision and access to funds in under ten minutes.
“Xero is committed to helping transform small businesses and we're excited to announce our integration with Kabbage, giving customers direct access to working capital based on their accounting data," says Jamie Sutherland, President, Xero U.S. "By connecting our platforms, customers gain the ability to acquire funding for inventory, marketing and other essential needs to grow their small businesses all measured within the context of their books. Together, we’re bringing complete transparency to their financial landscape.”
The Xero integration marks Kabbage’s fourth major underwriting and distribution partnership in the last six months, following successful integrations with Authorize.net, Intuit’s QuickBooks and Stripe. Every underwriting partnership enables Kabbage to expand its reach to serve more small businesses.
“Kabbage and Xero have both leveraged technology to dramatically simplify and improve financial management for small businesses,” said Rob Frohwein, Kabbage Co-Founder and CEO. “We are thrilled to now leverage the power of Xero’s accounting data to supercharge small businesses’ ability to grow. We have taken financing from a lengthy, multi-week application process to a seamless flow that customers can complete in less than ten minutes.”
Kabbage, Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide small businesses financing in as little as 7 minutes. Kabbage leverages data generated through business activity such as online sales, shipping, and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Kabbage is venture funded and backed by Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, with additional investors including: Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., Western Technology Investment, H. Barton Asset Management, and TriplePoint Ventures. For more information, please visit http://www.kabbage.com and follow the company on Facebook and Twitter.
Xero is beautiful, easy to use, online accounting software accounting for small businesses and their advisors. The company has over 200,000 paying customers in more than 100 countries around the world. Recently Xero garnered a five star review for Software As Service from CPA Practice Advisor. Xero’s US team is based in San Francisco. Xero is hosted with Rackspace in Chicago. See http://www.xero.com