Thomvest Ventures is the investment vehicle for Peter Thomson, chairman for the Woodbridge Company, a holdings firm for the Thomson family which owns a majority stake in the media conglomerate Thomson-Reuters.
Other investors included venturing companies Mohr Davidow Ventures, BlueRun Ventures, angel investors Warren Stephens, and David Bonderman, he founder of investment firm TPG Capital, and US-based company UPS via its corporate venturing Strategic Enterprise Fund.
The conclusion of the series C round brings Kabbage’s total funding to $57m.
Kabbage, founded in 2009 provides short term loans to online merchants. Merchants register for the service whereupon Kabbage will assess their seller history to determine eligibility for an amount loaned which is to be repaid over a maximum period of 6 months.
The company said it will use this funding to further advance and develop the underlying technology and data platform used to tailor its loans to clients, as well as to expand partnerships, and continue expansion.
In December Kabbage set up a $12m debt facility with investment firm Western Technology Investment.
Kabbage raised $25.8m from two separate series B rounds funded by UPS’s Strategic Enterprise Fund, as well as venture capital firms Mohr Davidow Ventures and BlueRun Ventures, and angel investors including co-founder of Square Jim McKelvey, Kabbage previously pulled in $1.5m in 2010.
Additional investors include early stage investor Intelligent Systems Corp., which contributed to Kabbage’s 2009 seed round, and venture debt firm TriplePoint Ventures.