Kabbage, the AI-based small business loan platform is strengthening its lending machine with a $200 million revolving credit facility from an unnamed subsidiary of a large life insurance company, managed and administered by 20 Gates Management, and Atalaya Capital Management.

Kabbage loans up to $250,000 in a single deal to small and medium businesses. It has built a platform that harnesses the long tail of big data from across the web to help it determine whether to provide a loan, and at what rate in mere minutes. The short process makes Kabbage stand out compared to the traditional route of applying for loans from banks, which can come at higher rates, longer processing time and could be disapproved.

The company was last valued at $1.2 billion in its most recent equity round from the Vision Fund in 2017, with about $500 million raised in equity to date from it and other investors, including BlueRun Ventures and Mohr Davidow Ventures.

Kabbage has, to date, loaned out $7 billion in capital to 185,000 businesses. Business activity has accelerated over the last two years and Kabbage is on track to loan out between $2.4 billion and $3 billion this year.

While a lot of Kabbage’s business has come out of its direct consumer relationships, it’s also been expanding by way of more third-party relationships. Earlier this year it was tapped by e-commerce giant Alibaba to provide loans of up to $150,000 to help finance purchases of its small business customers.

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