Experian to Provide Kabbage Technology and Data Platform to Clients
Kabbage Inc. is one of the leading technology and data platform that powers automated small business lending, is expanding its platform business through a strategic alliance with Experian, the leading global information services company. As part of the collaboration, Experian will offer Kabbage’s automated lending and servicing platform to its institutional clients that serve small businesses and consumers.
The announcement follows this year’s successful launch of Kabbage’s platform licensing business, an extension of the company’s core direct lending business. Kabbage continues to reinvent financial services by making its technology platform available to large financial institutions and other companies in the U.S. and abroad that serve small businesses and consumers.
Experian joins MasterCard as the second global leading company in financial services to leverage the Kabbage platform to extend automated lending to small businesses and consumers. Through these alliances, Kabbage will serve a broad spectrum of financial institutions, connecting small businesses and consumers with new sources of funding.
About Kabbage Inc.
Kabbage Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide fully automated funding to small businesses in minutes. Kabbage leverages data generated through business activity such as accounting data, online sales, shipping and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Through its Karrot brand, Kabbage offers simple consumer loans through its automated platform. Kabbage is venture-funded and backed by SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, TCW/Craton and additional investors, including Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital, and Warren Stephens, CEO of Stephens Inc. All Kabbage and Karrot U.S.-based loans are made by Celtic Bank, a Utah-Chartered Industrial Bank, member FDIC. For more information, please visit http://www.kabbage.com and follow the company on Facebookand Twitter.
Source: Mysanantonio.com
