The acquisition adds insights from 0ver 20 Million Small Businesses to its platform and propels Kabbage’s leadership in delivering data-driven cash flow solutions for small businesses
Kabbage entered into an agreement to acquire assets of Radius Intelligence, a leading small-business data platform. The purchase allows Kabbage to more deeply understand and serve small businesses as it adds insights from over 20 million U.S. small businesses to its platform.
Radius is a recognized technology leader in data acquisition and entity resolution—the ability to parse through numerous, disparate and complex data sets and unify them into a single, trusted data record. As Kabbage expands its technology platform to solve more comprehensive cash flow needs for small businesses, Radius’ insights will enhance Kabbage’s 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 Radius CEO, Joel Carusone, to support the integration of the two companies and technology platforms.
“Data has always been our competitive advantage, and Radius strengthens it by adding millions of new and verified small business insights to our platform,” said Kabbage CEO Rob Frohwein. “These new technology and data-analysis capabilities further differentiate us from other SMB-focused FinTech companies as we dramatically expand our product set and service platform to address the unique cash flow needs of small businesses.”
“We’re thrilled to join the Kabbage team. As a company dedicated to small business analytics and data management, we’ve always had a deep respect for Kabbage’s data-driven technology and focus,” said Radius CEO Joel Carusone. “Our companies have complementary technical architectures and domain experience for decision making. With Kabbage, we can build a more sophisticated analytics solution to identify, reach and serve small businesses.”
Source: Kabbage Press Release