Possible bidders include financial institutions and technology companies; no private-equity investors have emerged among the interested parties, one person said. A winning bid is expected within a month.
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Online lender Kabbage considers a sale, reportedly seeking up to $1b
Kabbage—the name is slang for money—was one of the early movers in using big-data analytics as a way to determine whether a small business was worthy of credit. The company bought Orchard in 2018, and, in 2019, scooped up Radius Intelligence to enhance its data capabilities. It invested more than $1 billion in technology that allowed it to automate loan applications.
