Kabbage Raises $30 Million to Make Small Loans to Online Merchants

Kabbage, which helps small online merchants obtain working capital, has raised $30 million in a third round of capital. The Atlanta-based company will use the funding to fuel growth opportunities. The round was led by Thomvest Ventures. Other investors, including UPS Strategic Enterprise Fund, Mohr Davidow Ventures, BlueRun Ventures, Warren Stephens, David Bonderman and Ron Conway’s SV Angel, also participated. To date, Kabbage has raised $56 million. Since launching two years ago, the company says it is now lending money to companies, which earn a combined $800 million in annual sales.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work