Kabbage Expands Reach by Teaming with Experian®
Experian to Provide Kabbage Technology and Data Platform to Clients
Kabbage Inc., the leading technology and data platform that powers automated small business lending, is expanding its platform business through a strategic alliance with Experian, the leading global information services company. As part of the collaboration, Experian will offer Kabbage’s automated lending and servicing platform to its institutional clients that serve small businesses and consumers.
The announcement follows this year’s successful launch of Kabbage’s platform licensing business, an extension of the company’s core direct lending business. Kabbage continues to reinvent financial services by making its technology platform available to large financial institutions and other companies in the U.S. and abroad that serve small businesses and consumers.
“In today’s competitive lending environment, there is inherent value in automated technology to underwrite, monitor and manage current and prospective customers,” said Laura DeSoto, senior vice president of Experian Business Information Services.
“By teaming with Kabbage, we are able to offer our clients additional resources that enable them to minimize risk and improve profitability, while providing small businesses and consumers with access to much-needed capital.”
Experian joins MasterCard as the second global leading company in financial services to leverage the Kabbage platform to extend automated lending to small businesses and consumers. Through these alliances, Kabbage will serve a broad spectrum of financial institutions, connecting small businesses and consumers with new sources of funding.
“The rapid adoption of the Kabbage platform by industry leaders like Experian is a testament to the power of our technology and its application across a variety of organizations,” said Pete Steger, head of business development at Kabbage. “Aligning ourselves with Experian, one of the industry’s top innovators touching millions of customers, is a key step in achieving our goal of broadening access to capital directly through Kabbage and our partners.”