"Today’s honor is a testament to the impact this technology has had on small businesses and its potential to completely transform how financial services are delivered to millions of customers everywhere."
Atlanta, GA (PRWEB) August 12, 2015
Kabbage Inc., the leading technology and data platform powering automated small business lending, was ranked among the top 50 fastest-growing companies on the prestigious Inc. 500 list. A first-time honoree, Kabbage was recognized for its rapid growth trajectory and continued innovation in the financial services industry.
Kabbage has tripled its loan volume year over year, with a three-year growth rate of more than 6,700 percent. The company also announced that it has extended $1 billion in capital to small businesses over just four years since making its first loan, faster than any company in small business finance.
“From the day we started Kabbage, our growth has been fueled by our investment in the industry’s only fully automated technology and data platform, which provides a dramatically better customer experience,” said Rob Frohwein, Kabbage co-founder and CEO. “Today’s honor is a testament to the impact this technology has had on small businesses and its potential to completely transform how financial services are delivered to millions of customers everywhere.”
Inc.’s annual list highlights the fastest-growing private companies in America based on growth and revenue. Kabbage joins an elite group of high-growth industry leaders featured in the 2015 list, including Box and Fitbit.
About Kabbage Inc.
Kabbage Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide fully automated funding to small businesses. Kabbage leverages data generated through business activity, such as accounting data, online sales, shipping and dozens of other sources, to understand performance and deliver fast, flexible funding in real time. Through its Karrot brand, Kabbage offers simple consumer loans through its automated platform. Kabbage is venture funded and backed by SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, TCW/Craton and additional investors, including Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, and Warren Stephens, CEO of Stephens Inc. All Kabbage and Karrot U.S.-based loans are made by Celtic Bank, a Utah-Chartered Industrial Bank, member FDIC. For more information, please visit http://www.kabbage.com and follow the company on Facebook and Twitter.
About the Inc. 500
The Inc. 500 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates their remarkable achievements. The event also offers informative workshops, celebrated keynote speakers and evening functions. For more information on Inc. and the Inc. 5000 Conference, visit Inc.com.