American Express Co. is in intending to buy the online small-business lender Kabbage Inc., with the help of investors including Japan’s SoftBank Group Corp. and Reverence Capital Partners.
The deal could be announced as soon as this month, according to the source, though talks could still fall apart.The all-cash deal could value the closely held lender at around $850 million, with retention payments.
Paul Bernardini of Kabbage and Marina Norville, a spokeswoman for AmEx, denied to comment, regarding this topic.
AmEx is on the hill i.e. largest provider of small-business credit cards in the country. With Kabbage on their side, it could be a bigger provider of loans, strategy it’s already pursuing within its consumer card business.
