Category Archives: loans

SMB loans platform Kabbage to furlough a ‘significant’ number of staff, close office in Bangalore

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Another tech unicorn is feeling the pinch of doing business during the coronavirus pandemic. Today, Kabbage, the Softbank-backed lending startup that uses machine learning to provide speedy and more accurate evaluations of loan applications for small and medium businesses, is furloughing a “significant number” of its US team of 500 employees, according to a memo […] Continue reading SMB loans platform Kabbage to furlough a ‘significant’ number of staff, close office in Bangalore→

Kabbage secures $200M to fuel its AI-based loans platform for small businesses

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Kabbage, the AI-based small business loans platform backed by Softbank and others, is adding more firepower to its lending machine: the Atlanta-based startup has secured an additional $200 million in the form of a revolving credit facility from an unnamed subsidiary of a large life insurance company, managed and administered by 20 Gates Management, and […] Continue reading Kabbage secures $200M to fuel its AI-based loans platform for small businesses→

Nissan Finance Canada Suffers Data Breach — Notifies 1.13 Million Customers

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It’s the last month of this year, but possibly not the last data breach report.

Nissan warns of a possible data breach of personal information on its customers who financed their vehicles through Nissan Canada Finance and INFINITI Financial Services C… Continue reading Nissan Finance Canada Suffers Data Breach — Notifies 1.13 Million Customers→

Small business loan platform Kabbage nabs $250M from Softbank

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 Kabbage, a company with some 115,000 customers and $3.5 billion in loans that has built an automated platform for lending money to small businesses and individuals using a large set of data points to determine a customer’s credit score, is announcing some big cabbage of its own today. SoftBank Group is investing $250 million in Kabbage — funding that Rob Frohwein, the co-founder… Read More Continue reading Small business loan platform Kabbage nabs $250M from Softbank→

Kabbage nabs $500M for small business loans

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 Kabbage, a billion-dollar startup that combines machine learning algorithms, data from public profiles on the internet and other factors to rate and then loan people money for their small businesses, is today announcing another big step up in its ambitions. The company has secured over $500 million in fixed-rate, asset-backed notes, money that it will use to expand the amount, payback… Read More Continue reading Kabbage nabs $500M for small business loans→