Kabbage CEO Selected as a Top Innovator by Bank Technology News
Magazine Names Rob Frohwein a Top 10 Innovator for Developing Revolutionary
Approach to Provide Capital to Small Businesses
ATLANTA, May 1, 2012
ATLANTA, May 1, 2012 /PRNewswire/ --Kabbage, Inc., the leading provider of
working capital for small businesses, today announced that Rob Frohwein has
been named a Top 10 Innovator by Bank Technology News. Rob was selected for
this prestigious award for conceptualizing Kabbage's breakthrough technology
and data platform that provides working capital to small businesses in less
than 7 minutes – an innovation that has had a significant impact on small
businesses and resulted in the award of multiple United States patents to
"Bank Technology News selected Rob and Kabbage because it provides much-needed
capital to small businesses via a unique and fully automated platform that
leverages real time data analysis in making funding decisions," said Penny
Crosman, Editor in Chief of Bank Technology News.
While businesses of all sizes need capital to grow, traditional financing
sources cannot easily determine risk and deploy capital to small businesses.
Before Kabbage, a small business often spent many fruitless months in search
of capital to invest in inventory, expand their office space, improve their
online sites, and develop marketing programs to grow their business. Kabbage
built its business to make this process simple and fast through an internet
based application and automated funding system which results in approval and
cash within 7 minutes of application. Kabbage accomplishes this by
immediately obtaining a variety of data such as UPS shipping data, ecommerce
activity on Ebay, Amazon and other marketplaces, PayPal activity, and even
conversations on social media sites as part of its automated risk assessment
algorithm to determine working capital assignments and associated costs.
"When we started Kabbage three years ago, our goal was to develop a better way
for small businesses to get access to the capital they need to grow," said
Kabbage CEO Rob Frohwein. "While we have now redefined small business finance,
we look forward to continuing to innovate on behalf of small businesses while
expanding our service and partnering with traditional financing institutions
to provide our capability to their small business customers. I am thrilled to
receive this honor from Bank Technology News in recognition of the value that
we are offering the thousands of small businesses who use Kabbage working
capital to grow and to prosper each and every day."
About Kabbage, Inc.
Kabbage, Inc., headquartered in Atlanta, Georgia, has pioneered the first
financial services data, technology and marketing platform for online
businesses, supporting millions of small and medium businesses that make a
living selling online. Kabbage leverages data generated through merchant
activity across various marketplaces and channels to understand business
performance and craft financing options that meet their needs. Kabbage is
venture funded and backed by Mohr Davidow Ventures and BlueRun Ventures, with
additional investors including: David Bonderman, founder of TPG Capital,
Warren Stephens, CEO of Stephens Inc., the UPS Strategic Enterprise Fund, and
TriplePoint Ventures. For more information, please visit www.kabbage.com.
SOURCE Kabbage, Inc.
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