In 2008, Rob Frohwein recognized that many companies were offering automated access to data via APIs like eBay. He realized small businesses simply needed to share this data to allow lenders to make better, faster decisions and provide great user experiences. With the help of Kathryn Petralia and Marc Gorlin, he founded Kabbage to leverage the power of real-time data automation to streamline lending and has since raised over $240 million from a number of international investors. Today, the Kabbage Platform has funded more than $2 billion in loans directly through kabbage.com and karrot.com and through relationships with partnering organizations worldwide.
Before founding Kabbage, Rob established, led and advised a number of successful businesses, including LAVA Group, U.S. Micro Corporation and Surgical Biologics. Additionally, he served in business development and legal capacities for ZapMedia and Security First Network Bank. Rob practiced law with Troutman Sanders LLP, co-authored three books on intellectual property and co-hosted a career-centered radio program sponsored by USA TODAY.
- 22 Wednesday 11:00 – 11:45 Session I: Lending & Crowd –
Alternative Lending is Dead (thankfully!)…Long Live Data.
Alternative lending has become a hot topic globally, but Kabbage looks at the world of lending very differently. Rob Frohwein sees Kabbage not as a lending company that leverages data, but rather a data company that happens to be in lending. With this construct in mind, Rob and the team at Kabbage are focusing on building a global data infrastructure and leveraging it to provide capital to small businesses in the U.S. and to arm some of the largest institutions in the world to do the same in their geographies.
Kabbage Inc. was established in 2008 by Rob Frohwein, Kathryn Petralia, and Marc Gorlin, who have developed a fully automated and 100% online method of providing financing. Today, the Kabbage Platform has funded more than $2 billion in loans directly through kabbage.com and karrot.com and through relationships with partnering organizations worldwide.