Atlanta, GA (PRWEB) February 06, 2013
Kabbage, Inc., the leading online provider of working capital for small businesses, announced today that it has expanded its executive team by adding Simon Yoo, a senior investment banker and former co-head of Citigroup Global Markets Asia Limited’s Financial Institutions Group, as Chief Financial Officer. During Simon’s 15-year tenure in investment banking, he advised numerous financial institutions, government entities, sovereign wealth funds and private equity firms on a range of strategic activities, including equity offerings, restructurings, leveraged finance transactions and M&A.
“We searched tirelessly for a leader who not only ranks among the world’s top experts in Financial Services and understands how to structure the largest and most complex corporate financing deals, but also shares our passion for accelerating the growth of small businesses. I am thrilled to add Simon Yoo to our leadership team.” said Rob Frohwein, Kabbage Co-Founder and CEO. “Simon’s track record in advising some of the world’s most successful financial services institutions will be critical in helping Kabbage access increasingly larger and more strategic financing options.”
“My parents were small business owners and, as a young adult, I watched them struggle, like many small business owners, for access to capital to grow. I am inspired by what Kabbage has done in just a few short years because I understand first hand on both a personal and professional level the importance of the services that Kabbage is offering to the SMB community,” said Simon Yoo. “I am excited to join the Kabbage team and to leverage my experience to help Kabbage further scale its data platform to reach millions of new small businesses, and to become the most meaningful and disruptive company in SMB finance.”
After beginning his investment banking career in Citigroup’s New York office, Yoo held increasingly senior management positions within the company’s Tokyo and Hong Kong operations. Prior to his tenure at Citigroup, Yoo was an associate in Mellon Bank’s New York based Wall Street Lending Unit. A native of Ohio, Yoo earned a B.A. in Economics and English from Kenyon College, where he is now a member of the Board of Trustees. Yoo also holds an M.B.A from the Johnson Graduate School of Management at Cornell University. He will be based in the company’s San Francisco office, further strengthening the company’s profile in the Bay Area.
About Kabbage, Inc.:
Kabbage, Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide funding to small businesses in less than 7 minutes. Kabbage leverages data generated through business activity such as selling online, shipping data, and dozens of other data sources to understand business performance and craft financing options for small businesses. 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.