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SaaS Interviews with CEOs, Startups, Founders

1213 Kabbage CEO: We've lent $5b to 150,000 SMB's, Will Pass $300m in 2018 Revenue

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 19 November 2018

⏱️ 22 minutes

🧾️ Download transcript

Summary

Rob Frohwein is the co-founder and CEO of Kabbage. In 2008, Rob Frohwein recognized that companies like eBay offered automated access to small business transaction data via APIs. Rob realized small businesses could simply share this data to allow underwriters to make better, faster credit decisions and provide a great user experience. He co-founded Kabbage in Atlanta, Georgia, to leverage the power of real-time data automation through technology. Before founding Kabbage, Rob advised, established and/or led several successful businesses, including LAVA Group, U.S. Micro Corporation (acquired by Arrow Electronics) and Surgical Biologics (acquired by MiMedx). Additionally, he led business development and legal for ZapMedia and Security First Network Bank (SFNB), the first online bank.

Transcript

Click on a timestamp to play from that location

0:00.0

Call your mom more from Rob.

0:01.8

Had a big vision back many years ago to say, you know what, we should be able to get loans out to small businesses, allow them to create jobs, eventually create this, you know, animal that is cashful as a service to allow the baker focus on what he or she loves, which is baking.

0:15.8

They're scaling very nicely.

0:17.1

2017 to 200 million bucks in revenue, 1.5 billion lent in that year alone. This year, in the next few months, they'll pass 5 billion total lent to over 150,000 small businesses, scaling over 300 million bucks in revenue, looking at many different products, again, to make that vision of cash flow of service come true.

0:33.4

Interested in blockchain and crypto that sits on top of it, but nothing particularly as important

0:37.8

right now is him managing volatility in capital markets, both domestically and across the world.

0:42.8

This is the top entrepreneurs podcast where founders share how they started their companies and got

0:49.4

filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other insider

0:59.2

information that creates business news headlines. We went from a couple hundred thousand dollars to

1:05.6

$2.7 million. I had no money when I started the company. It was $160 million, which is the size of any IPOs.

1:11.6

We're a bit strapped.

1:12.6

We have like 22,000 customers.

1:15.6

With over 5 million downloads in a very short amount of time,

1:20.6

major outlets like Inc are calling us the fastest growing business show on iTunes.

1:25.6

I'm your host, Nathan Latka, and here's today's episode.

1:30.6

Hello, everyone. My guest today is Rob ProWine. He's the co-founder and CEO of a company called

1:35.0

Cabbage. In 2008, he recognized that he recognized that companies like eBay offered automated

1:40.2

access to small business transaction data via APIs. But he realized a lot of small businesses

1:44.9

could simply share this data to allow underwriters to make better, faster credit decisions and

1:48.5

provide a great user experience. Because of that, he co-founded cabbage to leverage the power of

1:53.0

real-time data automation through technology. Rob, are you ready to take us to the top?

1:57.7

Let's do it. All right. So I'm excited to have you on. You were on about a year and a half ago and you shared with us then at that point. You had raised about 500 million bucks.

...

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