Kabbage, one of the leading small business lenders in the financial technology space, announced that it plans to acquire Radius Intelligence, makers of a data platform for small and medium-sized businesses.
Kabbage did not disclose terms of the deal but said the purchase includes the addition of nearly Radius 20 team members as well as Radius CEO, Joel Carusone, who'll remain on board to support the integration process.
Radius is focused on the data acquisition and entity resolution space, offering a platform where SMBs can unify disparate data sets into a single record for analysis. By integrating the Radius platform into Kabbage, CEO Rob Frohwein said the company will be able to offer customers better insights into cash flow.
"Data has always been our competitive advantage, and Radius strengthens it by adding millions of new and verified small business insights to our platform," said Frohwein. "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."
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