fbpx

August 17, 2020Blog Posts

American Express to Acquire Kabbage

Business Wire

American Express announced that it has entered into an agreement to acquire substantially all of Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward American Express’ goal of being an essential partner to small businesses through a broad range of payment, cash flow and financial management tools.

Under the terms of the agreement, American Express will acquire Kabbage’s team and its full suite of financial technology products, data platform and IP built for small businesses. Kabbage’s products include access to flexible lines of credit, online bill payment, cash flow visualization tools, e-gift certificates, and the ability to centralize funds through the company’s recently launched business checking account. This product suite is integrated into a single online platform that uses real-time data processing to help small businesses better understand, forecast and manage their cash flow.

With the addition of Kabbage’s technology, products and people, American Express plans to offer a broader set of cash flow management tools and working capital products to its millions of small business customers in the U.S.

Source

Want updates like this delivered weekly?

TransactionWatch is a weekly newsletter covering the most important and relevant merchant acquiring M&A activity. This first-of-its-kind newsletter was developed for the world’s cutting-edge payments executives. See an example edition.

How Do I Sign Up?
Click here to visit the TransactionWatch landing page and complete the subscription form. You will receive a confirmation email and begin to receive TransactionWatch every Friday.

  • Share this post: