Global financial service platform Kabbage announced on Tuesday it has acquired Radius Intelligence, a small-business data platform. Kabbage reported that the acquisition allows it to more deeply understand and serve small businesses as it adds insights from more than 20 million U.S. small businesses to its platform.
“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.”
While sharing more details about the acquisition, Kabbage CEO, Rob Frohwein, stated:
“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.”
Radius CEO, Joel Carusone, went on to add:
“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. 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.”