Kabbage, an online lending platform, has agreed to acquire small business data platform Radius Intelligence.
With this acquisition, Kabbage hopes to more deeply understand and serve small businesses by gaining access to insights from more than 20 million small businesses.
Radius is an enterprise customer data platform which created a B2B data ecosystem to help companies discover, manage and reach their audiences. Its AI-powered platform is capable of sifting through numerous, disparate and complex data sets and unify them into a single data record.
Kabbage will use Radius to improve cashflow needs by leveraging its insights to give customers the right experience at the right time.
As part of the deal, 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.
Kabbage CEO Rob Frohwein said, “Data has always been our competitive advantage, and Radius strengthens it by adding millions of new and verified small business insights to our platform.
“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.”
Kabbage offers small businesses access to working capital within minutes. Companies can access credit lines of up to $250,000 on terms of 6, 12 or 18 months.
Earlier in the year, Kabbage collected a new $200m revolving credit facility to support its rapid growth and offer more US small businesses with access to flexible, online funding.
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