Kabbage and Xero Partner to Deliver Instant Financing Using Accounting Data
Kabbage is First and Only Company to Offer Capital to Xero's Customers Based Exclusively on their Accounting Data
Kabbage, Inc., the leading online provider of working capital for small businesses and Xero, a leader in online accounting software, announced today that Kabbage can now instantly approve and extend funding to Xero’s customers based exclusively on their online accounting data. The partnership enables Xero’s customers to go from application to underwriting decision and access to funds in under ten minutes.
“Xero is committed to helping transform small businesses and we’re excited to announce our integration with Kabbage, giving customers direct access to working capital based on their accounting data,” says Jamie Sutherland, President, Xero U.S. “By connecting our platforms, customers gain the ability to acquire funding for inventory, marketing and other essential needs to grow their small businesses all measured within the context of their books. Together, we’re bringing complete transparency to their financial landscape.”
The Xero integration marks Kabbage’s fourth major underwriting and distribution partnership in the last six months, following successful integrations with Authorize.net, Intuit’s QuickBooks and Stripe. Every underwriting partnership enables Kabbage to expand its reach to serve more small businesses.
“Kabbage and Xero have both leveraged technology to dramatically simplify and improve financial management for small businesses,” said Rob Frohwein, Kabbage Co-Founder and CEO. “We are thrilled to now leverage the power of Xero’s accounting data to supercharge small businesses’ ability to grow. We have taken financing from a lengthy, multi-week application process to a seamless flow that customers can complete in less than ten minutes.”