Kabbage provides working capital to small businesses using marketplace and other data, including PayPal, to provide up to $50,000 in cash in as little as 7 minutes.
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Kabbage, Inc. is the leading provider of working capital for small businesses. Kabbage has pioneered the first financial services data and technology platform to provide funding to small businesses in less than 7 minutes. Kabbage leverages data generated through business activity such as seller channels, social media, shipping data, and other sources to understand performance and deliver financing options for small businesses. There is a rapidly growing delta between small-to-medium businesses need for credit and its availability from traditional sources. As a large percentage of small businesses, online retail sales as a percentage of total retail sales have doubled in the past five years. Ecommerce sales overall in 2006 were just over $107 billion, representing 2.7 percent of total retail sales . There are over 100 million Ebay users in the US today, with an estimated 200 million new listings in 2Q, 2008 alone. There are an estimated 5 million power sellers transacting over $48 billion on Ebay and more than 8 million high-volume sellers representing over $70 billion across all marketplaces.