Investors seem to be circling the alternative lending space sniffing out opportunity. Earlier this month, Google (GOOG) took a $125 million stake in Lending Club. Separately Google Ventures participated in a Series D round of financing to On Deck Capital.
Kabbage also has some heavy hitters backing it, including venture funds like Thomvest Ventures, run by Peter Thomson, director of Thomson Reuters (TRI - Get Report), Mohr Davidow Ventures, BlueRun Ventures and the UPS Strategic Enterprise Fund.
David Bonderman, founder of TPG Capital, is also an investor in Kabbage.
Kabbage announced last month that it completed a $75 million credit facility, led by Victory Park Capital - a new investor - and existing investor Thomvest Ventures. "Kabbage's underwriting platform and ease of use has positioned it as the leading online provider of credit solutions to small businesses," Peter Thomson said in a statement at the time. "We are pleased to partner with Victory Park in funding the growth of Kabbage and its small business clients through this debt financing and to share in Kabbage's future growth as an existing equity investor. "-- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: firstname.lastname@example.org.
Follow TheStreet on Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts