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August 17, 2011 03:58 pm GMT

Square Co-Founder And Others Put $17M In Online Merchant Lender Kabbage

KabbageAtlanta-based startup Kabbage, which provides working capital to online merchants, has raised $17 million in Series B funding led by Mohr Davidow Ventures with BlueRun Ventures, David Bonderman, founder of TPG Capital; Warren Stephens, CEO of Stephens; the UPS Strategic Enterprise Fund, Jim McKelvey, co-founder of Square; and others participating in the round. This brings Kabbage's total funding to $24 million. Kabbage, which was founded by Marc Gorlin, Rob Frohwein and Kathryn Petralia, is essentially a way for online merchants and sellers on marketplaces like eBay and Amaxon to get capital they otherwise wouldn't qualify for at a bank. Kabbage uses technology to analyze online merchants' sales and credit history; customer traffic and reviews; and prices and inventory compared to competitors. And merchants can proactively add information to their Kabbage account to immediately increase their access to capital.

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nsEtITIiH4A/

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