Kabbage, a US-based provider of finance for small businesses, has completed a $50m series D round led by Softbank Capital, the investment subsidiary of Japan-based telecommunications firm Softbank.
Launched in 2011, Kabbage provides working capital to small businesses using a financial services data and technology platform that leverages data through sources such as seller channels, social media and shipping data to assess financing options for companies.
The company has so far lent over $250m to small businesses and closed a three-year, $270m credit facility last month.
Kabbage’s series D round also featured investment firm TCW/Craton and venture capital firm Lumia Capital along with existing investors including package delivery company UPS’ Strategic Enterprise Fund, Thomvest, BlueRun Ventures, and Mohr Davidow Ventures.
“Kabbage is using data and technology in a highly innovative way to transform the entire small business financing sector,” said Steve Murray, a partner at SoftBank Capital. “Kabbage’s powerful underwriting platform which has been so successful here in the US has massive global potential and we look forward to helping the company navigate that opportunity to become an important global enterprise.”
UPS Strategic Enterprise Fund previously supported Kabbage’s $17m series B and $30m series C rounds. Kabbage has now raised approximately $104m in equity funding since it was founded.