For years, Kabbage has provided capital to online sellers across the United States in order to facilitate the ever-growing ecommerce market. Now, we’re pleased to announce we’ve taken several steps in our next adventure!
Recently, we secured $17 million from Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens and UPS Strategic Enterprise Fund. This is an incredible opportunity for us to provide even more help and assistance to small business owners all over the nation.
With the economy struggling like it is, we’re happy we can do our part to keep folks moving forward and making money. This funding almost means we're able to explore new territories; we can pursue additional marketplaces, new financial products and expand our model even further now.
But we’re not done!
Our second big announcement is we have successfully been awarded a patent by the United States Patent and Trademark Office. Over the years, we’ve slowly gotten to know what funds a struggling small business ecommerce owner needs to achieve their dreams. Now, with our new patent, we can take it a step further.
The US Patent is an “apparatus to provide liquid funds in the online auction and marketplace environment.” Basically, it’s a system that lets use an online merchant’s shop and selling history to best determine how dire a need there is of funds.
This patent is the first of many to come in the near future. These patents are solely to provide the best system available to every ecommerce seller out there. They also ensure Kabbage stays around for many years and is able to assist as many people as possible.
We’d first and foremost like to thank not only our various funders listed above and the US Patent Office, but we’d be nothing without YOU! Our wonderful eBay, Amazon, Etsy, and other ecommerce pros are the reason we do what we do and we can’t thank you enough. Look forward to some more big steps forward in the future!