Continuing with yesterday’s post on Atlanta Companies on the 2016 Inc. 500, there are two tech startups that really standout: Kabbage and Cardlytics. Both are financial tech (FinTech) companies that are growing super fast. Here’s a bit about each and their revenues for the last two years:
Kabbage — Small business lending based on alternative data sources to evaluate credit worthiness (e.g. checks your eBay ratings, Amazon ratings, UPS shipment volume, and QuickBooks statements to determine a loan amount). Here’s Kabbage’s revenue for the last two years as published in the Inc. 500:
- 2016 — $97.4 million
- 2015 — $40.1 million
Cardlytics — Aggregates data from 1,500 financial institutions to run online and mobile banking rewards programs (think anonymized purchase data from consumers that’s used to serve up relevant offers). Here’s Cardlytics revenue for the last two years as published in the Inc. 500:
- 2016 — $77.6 million
- 2015 — $53.4 million
Based on the scale of the business and growth of revenue, both of these companies would be in pre-IPO territory. Often, $100 million in revenue is the magic mark to go public and both should pass that this year. Congrats to both companies on the great growth and here’s to their continued success.
What else? What are some more thoughts on Kabbage and Cardlytics?