Thursday, October 18, 2012

ChannelAdvisor Partners with Kabbage - Creates Channel for Retailers to Grow E-Commerce

CED Mentor Partner ChannelAdvisor, a leading provider of cloud-based e-commerce solutions that enable retailers to increase global sales based in Morrisville, today announced its partnership with Kabbage Inc., the leading online provider of working capital for small businesses. This collaboration offers ChannelAdvisor customers direct access to a new source of funding in time for the 2012 holiday season.

Together, ChannelAdvisor and Kabbage offer online retailers a competitive advantage through the combination of advanced e-commerce software and immediate access to capital. Online retailers are able to use Kabbage to apply for and secure funding online within minutes.  The funds can be used to stock up on inventory, expand channels, launch new marketing initiatives, hire staff and much more.

“ChannelAdvisor creates strategic partnerships that help retailers ramp up their sales, and our recent partnership with Kabbage provides our customers capital to fund their business needs,” said ChannelAdvisor Director of Business Development Jordan Weinstein. “Both ChannelAdvisor and Kabbage are key resources for any retailer who is looking to increase their marketplace volume. This opportunity is especially beneficial right before the holiday season, giving retailers a means to invest in new initiatives or inventory that will accelerate their sales in the coming months.”

“Many retailers are growing rapidly but lack the capital to truly take their business to the next level,” said Kabbage Chairman Marc Gorlin. “ChannelAdvisor is in the business of helping retailers grow and so are we, which is why this partnership makes so much sense. Together we are giving entrepreneurs access to the most trusted source of funding, used by thousands of small businesses to realize their growth potential.”

This new partnership has already benefitted Empire Security Cameras, a joint ChannelAdvisor and Kabbage customer, which is using Kabbage funds to implement advanced technology in order to efficiently scale its business.

“Connecting with Kabbage was a quick and easy process that allowed us to secure the funding that we needed to expand our online operations,” said Empire Security Cameras CEO Kyle Korona. “Traditional lending programs are not a fit for our business model, so being able to access much needed cash within minutes immediately changed our strategy. We were able to invest further in ChannelAdvisor software and additional marketing programs that ensure we are one of the most competitive security camera retailers on the internet.”

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