Kabbage gets $200M from Credit Suisse to expand its AI-based business loans

techcrunch.com

The company is picking up $200 million from Credit Suisse in a revolving credit facility that it will use for loans. Specifically, Kathryn Petralia, who is the COO and co-founded the company with Rob Frohwein, said the funding will help the company increase the number of loans it can make to larger companies in the US. The average size of those loans will grow to “north of $200,000,” she said.

SMB lending starting to heat up, Kabbage also starting to encroach into commercial banking with 6 figure loans. 

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