Kabbage has raised $17 million through a round of series B funding. The round, which was led by Mohr Davidow Ventures, included existing investors BlueRun Ventures, TPG Capital founder David Bonderman, Stephens Incorporated CEO Warren Stephens and UPS Strategic Enterprise Fund.
Jim McKelvey, co-founder of Square, also took part in the round. Kabbage, which extends working capital to online merchants, will utilize the funds to target additional marketplaces, seek distribution relationships, develop new financial products and for international expansion.
Click here for the release from Market Wire.