SoftBank, UPS, Santander, ING, Scotiabank and Recruit could exit the business finance platform in a deal reportedly sized at up to $850m.
Payment services firm American Express has reached the advanced stage of discussions to acquire business finance platform Kabbage, potentially allowing corporates including SoftBank, UPS, Santander and Recruit to exit, Bloomberg reported yesterday.
The prospective deal could be sized at up to $850m including retention payments and close this month, according to a person familiar with the matter. It was valued at $1.2bn in its last funding round, when telecommunications and internet group SoftBank invested $250m in 2017.
Kabbage operates…
