Kabbage Inc., an online provider of working capital to smallbusinesses, said Wednesday it has expanded its data platform tofund businesses that use Square to process payments.
|The Atlanta-based firm said it has long admired how Square hashelped businesses grow by enabling them to accept credit cards. Theprocess for Square merchants to apply for and receive workingcapital is online and automated, with funds delivered in less than10 minutes, Kabbage said.
|The recent expansion of Kabbage's data platform to businesses that use Square follows four other additions rolledout in 2013, including underwriting based on Intuit, Authorize.net,Xero and Stripe data, according to Kabbage.
|In September 2012, the company announced that it had raised$30 million in Series C financing to further advance itstechnology and data platform, expand partnerships, and to continueits growth as a small business finance company.
|The funding could potentially help to expand partnerships withcredit unions as well as larger banks, Kabbage said at thetime.
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