Kabbage, Inc., an Atlanta, GA-based data and technology company providing cash flow solutions to small businesses, is to acquire assets of Radius Intelligence, a provider of a small-business data platform.
The amount of the deal was not disclosed.
Led by CEO Joel Carusone, Radius provides data acquisition and entity resolution solutions to parse through disparate and complex data sets and unify them into a single data record.
The acquisition allows Kabbage to understand and serve small businesses as it adds insights from over 20 million U.S. small businesses to its platform.
Radius’ insights will enhance its ability to deliver customers the right experience at the right time. At close, Kabbage will add nearly 20 team members to its San Francisco office, as well as Carusone, to support the integration of the two companies and technology platforms.
Led by CEO Rob Frohwein, Kabbage provides small businesses with automated cash flow solutions, including its online lending platform which allows them to access ongoing lines of credit up to $250k.
Its technology analyzes small businesses’ real-time data such as online sales, banking information, shipping activity and dozens of other sources to understand performance, to provide an automated funding decision in minutes.
To date, Kabbage has provided more than 200,000 small businesses access to over $7 billion of working capital.
All the company’s U.S.-based loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.
FinSMEs
03/09/2019