Kabbage Customers Access Over $715M in Record Q3

Kabbage reports small businesses in the U.S. accessed more than $715 million of capital in the third quarter through Kabbage.

Reuters: Recession Fears Have Online Lenders Scaling Back

Reuters reported that U.S. online lenders such as LendingClub, Kabbage and Avant are scrutinizing loan quality as they prepare for an economic downturn.

Kabbage Names Rosenberg CFO

Online lender Kabbage bolstered its financial leadership team with the appointment of Scott Rosenberg as its chief financial officer. The company also added Laurie Simon Hodrick as an independent director on its board.

After Hours Banking Loans Top $1B for Kabbage

As small business owners increasingly shun regular bankers’ hours, Kabbage reported 145,000-plus customers accessed more than 300,000 after-hours loans for a total of more than $1 billion in funding.

Kabbage Closes $4B Small Biz Loans, Names Sharpe COO

Fintech lender Kabbage has extended more than $4 billion to more than 130,000 small businesses since April 2017. Robert Sharpe has joined the company as COO.

Credit Suisse Provides New $200MM Asset-Backed Revolver to Kabbage

Kabbage closed a new $200 million asset-backed revolving credit facility with Credit Suisse. The revolver is supported entirely by fully-automated underwritten assets from Kabbage.

ING, Kabbage Expand Small Business Lending into France & Italy

Kabbage and ING expanded their strategic partnership into France and Italy to provide small businesses with real-time access to working capital.

Reuters: Kabbage Raising Money for Possible Acquisitions

Reuters reported online lender Kabbage is in talks to raise equity funding that could be used for acquisitions. OnDeck was named as a possible target.

Fintech Lender Kabbage Prices $525MM Securitization

Kabbage, an online financial services, technology and data platform, priced $525 million of fixed-rate, asset-backed notes in a private securitization transaction.

Fintech Lender Trade Associations Merge to Form ILPA

The Innovative Lending Platform Association (ILPA) and the Coalition for Responsible Business Finance (CRBF) are merging and will operate as the ILPA – the trade organization representing online lending and service companies serving small businesses.