Small business loans platform Kabbage, which also counts SoftBank as a backer, is targeting $150m in the UPS-backed series E round.

Kabbage, the US-based owner of a lending platform for small businesses, has raised about $120m in series E capital from investors including logistics company UPS, the Atlanta Business Chronicle reported on Friday.

The company is targeting $150m for the round, which also includes financial services firm Santander, BlueRun Ventures, Thomvest Ventures and undisclosed Indian and Chinese private equity firms. UPS invested through its Strategic Enterprise Fund.

Kabbage runs a fully automated platform that lends sums between $2,000 and $100,000 to…