Kabbage, an online provider of working capital for small businesses, has closed a revolving, 3-year $270 million credit facility. The company's financial services data and technology platform leverages data generated through business activity such as online sales, shipping and many other sources to understand performance and deliver flexible funding in real time. Kabbage provides small businesses with financing in as little as 7 minutes and has advanced over $250 million to date.
Kabbage previously received $75 million of debt financing in 2013 and has raised close to $56 million in venture funding from investors including Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures and SV Angel, among others. The company's largest equity financing was a 2012 $30 million Series C round that valued the company at $152 million in September 2012. Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, acted as sole structuring and placement agent, as well as administrator, on the new deal.