The round was led by venture capital BlueRun Ventures. In addition, the UPS Strategic Enterprise Fund also participated in the round, the source has found out.
According to the same source, Kabbage is planning to use to the new funding to extend to other platforms, including Amazon and social commerce website focused on handmade or vintage items Etsy.
Kabbage uses technology to analyse online merchants’ sales and credit history, customer traffic and reviews, as well as prices and inventory compared to competitors. In October 2010, Kabbage selected the PayPal X global payments platform, to power its launch of working capital advances for small businesses that sell products and services online.
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