Tag: Kabbage
Nuula raises $120M to build out a financial services ‘superapp’ aimed at SMBs
A Canadian startup called Nuula that is aiming to build a superapp to provide a range of financial services to small and medium businesses has closed $120 million of funding, money that it will use to fuel the launch of its app and first product, a line of credit for…
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Despite the pandemic, small business optimism persists
Kathryn Petralia Contributor Kathryn Petralia is the president and co-founder of Kabbage, an American Express Company providing small businesses cash flow solutions. Businesses and consumers alike are finding ways to adapt and stay resilient during these unprecedented times. Though recovery may take time, a new report confirms the strength of…
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SoftBank-backed Oyo cuts salaries, furloughs employees
Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavirus pandemic that has slashed its revenue by about 60%. Rohit Kapoor, chief executive of Oyo,…
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Fintech’s uneven new reality has helped some startups, harmed others
Fintech startups were hot news before the COVID-19 era, but the pandemic hasn’t bumped the sector out of the headlines. Companies that were pitching optimistic news a few weeks ago are now cutting staff. Others are facing a surge of users trying to find their financial footing in the face…
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India’s Oyo furloughs thousands of employees as revenue drops by over 50%
Oyo has placed thousands of employees on furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm confronts the coronavirus outbreak that has cut its revenue and demand by over 50%. The startup’s teams in the U.S. are most impacted by…
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Lending startups are angling for new business from the COVID-19 bailout
As the largest federal stimulus package in the history of the United States, the Coronavirus Aid, Relief and Economic Security Act, injects a planned $2.2 trillion into the U.S. economy, fintech startups are angling to get a seat at the table when it comes to distributing the cash. “In the…
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