Founders: Rob Frohwein (CEO), Kathryn Petralia, Marc Gorlin
Funding: $489 million
Valuation: $1.1 billion (PitchBook)
Key technologies: Artificial intelligence, machine learning
Industry: Credit, financial services, lending
Previous appearances on Disruptor 50 List: 2 (No. 14 in 2019)
Among the biggest headaches any small business faces is cash flow. Kabbage, headquartered in Atlanta, is a data and technology company providing small businesses with a solution. Its suite of products includes Kabbage Payments, which helps small businesses get paid and access the money they earn faster. Kabbage Funding provides access to flexible lines of credit in minutes. To date, Kabbage has provided more than 220,000 U.S. small businesses access to over $9 billion in working capital. Kabbage claims that in three steps — and in under 10 minutes — a small business can apply and be approved for a credit line of up to $250,000. The company is able to do this because it's built the machine learning algorithms that allows it to pull real-time business data of customers rather than rely on traditional bank statements and other static financial documents.
View the FULL LIST: 2020 DISRUPTOR 50
In response to the coronavirus pandemic, Kabbage restructured its lending technology to support PPP lending for small businesses. This has enabled tens of thousands of small businesses to have access to PPP funding when their bank wasn't able to accommodate them. The company also built and launched www.helpsmallbusiness.com in three days. It enables any small business to sign up to sell online gift certificates to generate more revenue. The effort has attracted partnerships including Facebook and Instagram. Customers can now list their companies directly on each platform, and they will surface gift certificate offers to local users in the community.