Rob Frohwein, co-founder and CEO of Kabbage, shares expected lending volume for 2018.
Assertion Not checkable as stated
Frohwein: Kabbage loans average a mid-30s APR
“We average about a mid thirties APR”
Assertion Not checkable as stated
Frohwein: Every $1B Kabbage lends creates 20,000 jobs
“We've done studies that really show that, you know, the capital that we're putting out really produces a lot of jobs, you know, about 20,000 jobs for every billion dollars that's put out.”
Insight
Frohwein: Fintech underwriters must retain credit risk to align incentives
“I think it's important to have real alignment between those who are calling the risk, which is us, right? We're trying to figure out whether there's, you know, a, you know, whether a customer's credit, whether you're not, and those that actually hold the, you …”
Prediction Not publicly verifiable
Frohwein: Kabbage will break $300M in 2018 revenue
“We do. So, yeah, so we will.”
Disclosure
Frohwein: Kabbage Explores Blockchain to Hedge Capital Permanence Risks
“The way I think about blockchain, and frankly, crypto, if you will, that sits on top of blockchain, is a way to maybe either hedge against some of the permanence issues that, that exist in the capital markets for companies like Cabbage or a way to so either a …”
Assertion Not checkable as stated
Frohwein: SoftBank has no access to Kabbage's underwriting data
“No, no, they are strictly a shareholder in the company. It's not a, you know, it's not a relationship where we're sharing data or anything along those lines.”