American Express signed an agreement to acquire Kabbage! What started as a few people sitting around a Starbucks thinking through how to use technology to provide eBay sellers access to small business loans would soon become part of the most storied brand in financial services history.
Read More: GlobalFintechSeries Interview with Sean Worthington, President at CloudCoin Consortium
On the one hand, we are entrepreneurs through and through and relish the daily fight that is required to push a company forward (not to mention through a pandemic). On the other hand, we are not joining just any company, but a company we have long admired that shares our vision to strengthen small businesses. -Kabbage Press Release
Kabbage shared the news saying that they’ve known Anna Marrs, the spectacular and authentic leader of the Global Commercial Services division of American Express and Steve Squeri, the CEO of American Express, long before this particular conversation started. The team is looking forward to joining an illustrious company.
For the team at Kabbage, the resolve remains unchanged. They will remain entirely focused on solving the plight of the small business, making their lives easier and their businesses stronger by handling the tough tasks related to financial services in an automated and simple way.
With American Express, their ability to reach more small businesses with increasingly impactful technology only multiplies. Small businesses have been the most directly affected in the economy by COVID-19 and they are key to an economic renewal.
Read More: Vitesse, a Fintech Providing Real-Time Cross-Border Payments for Businesses, Scores £6.6m Series A
