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AmEx eyes $850m Kabbage acquisition - Bloomberg

AmEx eyes $850m Kabbage acquisition - Bloomberg

American Express is in talks to buy online small business lender Kabbage for up to $850 million in cash, including retention payments, according to Bloomberg.

Talks are advanced and an agreement could be reached this month, says Bloomberg, citing a person familiar with the matter.

Kabbage was valued at more than $1 billion in 2017 after a $250 million investment from SoftBank.

However, the firm has been battered by the Covid-19 crisis, laying off staff and suspending credit lines for some of its customers.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 13 August, 2020, 14:49Be the first to give this comment the thumbs up 0 likes

Yet another example of my FI Innovation Playbook

"Don't drink the Kool-Aid of every shiny new technology; Wait and watch for fintech winners; Buy / make only what works."