Kabbage Closes $75 Million Debt Facility

Financing company Kabbage has secured a $75 million debt facility to provide loans to ecommerce businesses.

"We have followed Kabbage since its inception and have been exceedingly impressed by the power of its innovative real-time data platform and the team's ability to scale over the last two years," said Tom Affolter, Principal at Kabbage investor Victory Park Capital. "There is a clear void in the market as traditional financing sources remain reluctant to lend. As a firm, we are excited to provide financing to Kabbage as it is uniquely positioned to deploy this capital to meet the demand for funding from small businesses."

Tagged: Financing
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