- General
- September 3, 2019
- 4 minutes read
Kabbage Scoops Up Radius Intelligence
Kabbage co-founder and CEO Rob Frohwein image: MoneyConf on Flickr Kabbage, an Atlanta-based online small business lender that secured $200…
 |
| Kabbage co-founder and CEO Rob Frohwein
image: MoneyConf on Flickr
|
Kabbage, an Atlanta-based online small business lender that secured $200 million in debt financing roughly two months ago, has announced it’s acquiring Radius Intelligence, a San Francisco-based small business data platform that’s backed by nearly $110 million in funding from top VCs like Founders Fund, AME Cloud Ventures, Formation 8 and Salesforce Ventures. Radius had previously reached a deal to merge with a competitor, Leadspace, but quietly turned back some few months later.
Financial terms of Radius’ acquisition were not disclosed. Kabbage is getting nearly 20 employees, including CEO Joel Carusone, that’ll be added to its San Francisco office with this acquisition. Kabbage is a digital lender for small businesses, and Radius has put together a database of information on some 20 million small and medium businesses in the US. The acquisition seems like a very good fit, with Radius’ insights providing good ground for Kabbage to better understand and serve small businesses. Kabbage provides SMBs with loans of up to $250,000, and has made more than $7 billion in loans since inception.
“Data has always been our competitive advantage, and Radius strengthens it by adding millions of new and verified small business insights to our platform,” Kabbage CEO Rob Frohwein said in a statement. “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.” He said.
“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,” Radius CEO Joel Carusone added. “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.” Carusone said.
