Kabbage First to Deliver Instant Working Capital on the Go

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Company provides small businesses with instant funding from mobile devices.

Enabling access to funds from mobile devices is the next logical step to making it even easier for small businesses to get instant access to capital.

Kabbage, Inc., the leading online provider of working capital for small businesses, announced that it now offers customers immediate access to working capital funds from any iPhone or Android device. Kabbage is the only company in Financial Services to empower its customers with instant access to working capital anywhere, anytime via mobile apps.

The new mobile apps further simplify access to capital for small business owners. It takes customers just one minute to login to their account, select the amount of cash needed, and send the funds instantly to their PayPal or bank account.

“The Kabbage iPhone app saved me just the other day,” said Nicholas Herweck, owner of A-1 Resale. “I was visiting one of my suppliers to pick up auction items for resale. The owner showed me additional items and made me an offer I couldn’t resist. I didn’t have the extra funds to purchase the entire amount, but then I remembered the new app. I quickly took the Kabbage advance and was able to purchase the additional inventory in 3 minutes from start to finish without worrying.”

To date, Kabbage customers from 41 states have taken advances through the mobile apps. The rapid adoption of the apps speaks to the strong need for funding from small businesses everywhere and the power of the Kabbage platform to address that need.

“Kabbage’s vision is to dramatically expand access to capital for small businesses everywhere," said Rob Frohwein, Kabbage, Co-Founder and CEO. “Enabling access to funds from mobile devices is the next logical step to making it even easier for small businesses to get instant access to capital. Now our customers can scoop up the best inventory deals on the spot and use the power of their Kabbage working capital to build and grow their businesses.”

The Kabbage mobile apps are available to customers via the App Store and Google Play.

About Kabbage

Kabbage, Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide small businesses financing in fewer than 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.

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Ann Noder