Warren Stephens says he has confidence in Marc Gorlin, founder and CEO of crowdsourced delivery service startup Roadie (see Startup Roadie Gets More Stephens Cash), in which Stephens has invested. After all, he said, look at Kabbage, which “turned out to be a great investment.”
Kabbage, co-founded by Gorlin in 2009 and, like Roadie, based in Atlanta, is on online lender for small businesses. In April, Kabbage closed on a $700 million asset-based securitization deal, described by American Banker as “the largest ever by a small-business online lending platform. It was a remarkable moment for the online lender that uses alternative data and machine learning to make small-business loans.”
Stephens, CEO of Little Rock’s Stephens Inc., was one of the earliest investors in Kabbage. Kabbage says it “has helped more than 170,000 small businesses access over $6.5 billion in funding via its automated underwriting models which analyze the live business data of customers to provide a funding decision in minutes.”
And before Kabbage was VerticalOne, an online account aggregating company co-founded by Gorlin in which Stephens invested in the late 1990s.
“I think Marc is a really good entrepreneur,” Stephens said last week. “And he’s really, really good at getting these things off the ground and profitable.”