Note from the Publisher: Sometimes you have to dig a little to get to the underlying story. Today, PEHub/Buyouts is reporting that Kabbage, the online small business lender, is looking for capital, but has given up on an IPO, which had been reported earlier to be their hope. Interestingly, Kabbage ran a sponsored post back on August 9th on another VC/PE site recent – FinSMEs – which indicates they were looking for exposure from that audience for funding. Click here to view. Founder Rob Frohwein is a bit of a celebrity here in the ATL fintech community, and he’s raised a lot of money ($240M) for his company. It will be interesting to see how this next round of funding unfolds, and where it comes from.
“I have a story on Kabbage, the alternative lender, which is looking for capital. Rivals in the space, like Lending Club and On Deck, haven’t done well in the aftermarket so hopes of a Kabbage IPO are pretty much gone, according to sources……………
Kabbage raised five rounds of funding, $240 mln equity
- Company not expected to go public
- Kabbage provides $1 bln annually to businesses, consumers
Kabbage Inc, an alternative lender, is looking to raise capital, three banking and private equity sources said. How much Kabbage is seeking is unclear.”
Read Full Article at PEHub/Buyouts
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