Kabbage Named Top 10 Most Innovative Company in Finance by Fast Company
Company extends more than 50,000 advances, reaches more small businesses than any other funding source
Atlanta, GA (PRWEB) February 11, 2013 - Fast Company has placed Kabbage, Inc., the leading online provider of working capital for small businesses, on its Most Innovative Companies list, joining some of the world's top brands including Google, Nike, Square, Samsung and others. Fast Company undertook a rigorous selection process to identify the most innovative leaders across industry sectors and from around the globe.
As a Top 10 Most Innovative Company in Finance, Kabbage was recognized by Fast Company for its breakthrough funding platform that leverages persistent connections to unconventional data sources such as shipping, social media, ecommerce, payments, and other data. Kabbage's advanced technology and data funding platform allows businesses to obtain cash within 7 minutes of applying online. Annualized demand for Kabbage has increased more than tenfold from $20 million just 12 months ago to $200 million today. Kabbage now reaches more small businesses than any other online provider of working capital and has extended more than 50,000 individual advances to small businesses.
“When we started Kabbage, we just wanted to make capital accessible to millions of businesses. We were blissfully ignorant of the antiquated ways of traditional small business funding and simply focused on how funding should be -- easy, enjoyable and technology and data-driven,” said Rob Frohwein, Kabbage Co-Founder and CEO. “We are honored that the Fast Company award recognizes our ability to leverage data from the services that small businesses use as part of their daily operations in order to make capital widely available to them.”
In addition to Fast Company's recognition, Kabbage has received four other major awards in the last nine months including first place in VentureBeat's ClouldBeat showdown, “The Most Innovative Company in Financial Services” by PYMNTS.com, “Top 100 Private Company in North America” by Red Herring, and “Top 10 Innovator of the Year” by Bank Technology News.
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 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.